Iran agrees to suspend nuclear program, Trump says

President Trump said Iran agreed to suspend its nuclear program indefinitely and would not receive frozen U.S. funds as part of a possible deal to end the Middle East conflict. The reports — and related headlines that the Strait of Hormuz is open — lifted risk appetite: U.S. equities and crypto-linked stocks jumped in reaction. For markets, the reduction in geopolitical risk is likely to be risk-on, pressuring traditional safe-havens such as gold (XAUUSD) and potentially weighing on oil risk premia. Short-term market moves already show strong gains in select equities tied to risk assets, suggesting XAUUSD faces downward pressure until geopolitical risk sentiment cools further or the details of any agreement are confirmed.