The US and Iran have reached a preliminary agreement on a 60-day memorandum of understanding, causing a $30 short-term surge in spot gold prices while oil prices fell.

BlockBeats News, May 28th, according to Bitget market data, after the US-Iran negotiation representatives reached a 60-day Memorandum of Understanding, awaiting final approval from Trump, spot gold saw a short rally of $30, reaching $4462 per ounce. WTI crude oil fell below $90 per barrel, with an intraday decline of 2.50%.

According to PolyBeats monitoring, on the prediction market Polymarket, the probability of "US-Iran reaching a permanent peace agreement" by May 31st has risen to 17%, and by June 30th, the probability is 51%.