Gold rose above $4,300 an ounce on Thursday, recovering losses from the previous session after President Donald Trump signed an interim agreement to end the conflict with Iran and reopen the Strait of Hormuz. Reports indicated that the deal includes the swift reopening of the strait and the removal of sanctions on Iranian oil exports, while negotiations on nuclear issues and potential additional economic incentives for Iran are set to continue. Meanwhile, gold tumbled nearly 2% on Wednesday after the US Federal Reserve signaled increasing support for interest rate hikes this year. Fed Chair Kevin Warsh refrained from providing guidance on the next policy move but stressed that inflation has remained above the central bank’s 2% target for several years and reiterated the Fed’s commitment to restoring price stability.