Gold Continues to Climb.. Ounce Hits $4,257

Gold prices climbed to their highest level in four weeks, as the prospect of a temporary deal to reopen the Strait of Hormuz eased concerns about inflation outlooks and reduced the likelihood of the Federal Reserve raising interest rates. The precious metal rose as much as 4.44% to $4,257 per ounce, marking its highest level during the session since July 7, and added approximately $1.3 trillion to its market value during Wednesday’s trading session.