As tensions ease in Middle East, US dollar plunges, gold rises

Amid easing tensions in the Middle East region related to the ceasefire deal, the US dollar posted a decline against the euro, and gold prices surged.

The US dollar decreased around 1% against the euro, and 1.1% against the British pound; the USD/EUR exchange rate is at 0.85, and USD/EUR is at 0.72 as of 0645GMT.

Meanwhile, gold prices increased around 2.7% to $4,830 per ounce; silver prices also posted an increase, up 6.33% to $77.5 per ounce.
Following Pakistani Prime Minister Shehbaz Sharif's proposal for a two-week ceasefire between Iran and the US, Trump announced that he agreed "to suspend the bombing and attack of Iran for a period of two weeks."

Sharif also invited Iranian and US delegations to Islamabad on Friday and said Washington and Tehran, along with their allies, have agreed to an immediate ceasefire across all conflict zones.