Gold prices rebounded to $4,700 per ounce, driven by a shift towards safe-haven assets and a weaker dollar amid speculation of an imminent ceasefire agreement between the United States and Iran. Crude oil prices fell sharply, providing a positive boost to gold prices, as both countries signaled a willingness to sign a memorandum of understanding and ease sanctions. Geopolitical tensions are easing, fueling optimism for a broader nuclear agreement.