Gold Hits Seven-Week High Despite US-Iran Deal Optimism

Gold is a shiny metal that many people buy when they want to keep their money safe.

This week, gold became more valuable, reaching a seven-week high, which means its price was higher than it has been in seven weeks.

The price went up because the money people earn from government bonds, called Treasury yields, went down, making gold look like a better place to keep money.

Some people thought the United States and Iran might make a deal to ease tensions in West Asia, but gold prices kept rising anyway.

People buy gold to protect their money when they are worried about the world.

In India, the price of gold rose to nearly Rs 150,000 for 10 grams.

Silver went up at first, then its price fell a little.

Oil prices also went down below $80 a barrel, which made people think the cost of things might rise more slowly.

Lower oil prices can reduce worries about inflation, which helped gold's appeal.

Experts say gold could keep climbing if it stays above Rs 149,000.