Gold bounces above $1,315/oz as Trump withdraws from the Iran deal

• Trump decides to withdraw the US from the Iran deal as expected but can hurt risk-on mood.
• Gold bounces and is trading above the $1,315.00 a troy ounce mark. 

Gold is trading at around $1,316 a troy ounce up 0.16% as Trump announced that he decided to withdraw the country from the Iran nuclear deal. 

Trump is going against the approval of UK, France, Germany and the EU which support the current deal. This can complicate things on the geopolitical level and affect negatively the risk-on sentiment, favoring Gold as a safe-haven asset.

Looking back, in 2015, the Iranian agreement lifted economic sanctions on Iran and in exchange the oil-producing country would limit its nuclear program and allow inspections of its atomic facilities. However, Trump never liked the deal as it would allow Iran to resume uranium enrichment after 2025, which would open the doors for building nuclear weapons.