Gold Holds Firm Above $4,500 On US-Iran Peace Deal Hopes, Soft US Data

Gold held firm above $4,500 an ounce on Friday, the dollar headed for a small weekly loss on improved risk sentiment in markets, and oil prices slipped to a one-month low amid investor optimism that the Middle East conflict is inching toward an end and that the reopening of the Strait of Hormuz may ease disruptions to energy flows.

Softer U.S. GDP and inflation data released overnight also drew investors firmly back into safe-haven assets.