Markets cheer U.S.-Iran agreement, but some investors caution deal is yet to be signed

Besides safe-haven Treasurys, gold also rose. "Gold is the interesting outlier here," Leung said. "In a clean risk-on trade, gold should be selling off as the geopolitical premium unwinds, but it is holding bid around $4,300, which tells you the market is not fully trusting the deal yet."Spot gold prices were up almost 2% at $4,302.19 per ounce.That skepticism reflects lingering uncertainty around the agreement, which remains unsigned and subject to implementation risks.Gilbert cautioned that "the deal isn't actually signed until June 19th, the details are still thin, and this conflict has shown more than once that headlines can turn on a dime."Analysts at Commonwealth Bank of Australia also stressed that the oil outlook hinges on how quickly shipping and production can normalize.Vivek…

Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Top.