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Gold climbs 1% as U.S.-Iran truce pressures oil; all eyes on Fed meeting
Gold prices climbed on Monday as a pause in strikes between U.S. and Iranian forces dragged crude oil prices lower, helping ease inflation concerns and worries about the risk of higher interest rates in a week where policymakers at the Fed are due to meet. Spot gold gained 0.9% to $4,089.03 per ounce, while U.S gold futures for August delivery rose 0.5% to $4,090.80. “Precious metals have started the week on the front foot, helped by a pause in Middle East hostilities. Oil has slumped and both the dollar and U.S. Treasury yields have eased,” said independent analyst Ross Norman. The U.S dollar index dropped ... (full story)
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Iran To Halt Attacks As Long As U.s. Maintains Latest Pause, Senior Iranian Source Tells Reuters
From fxleaders.com | 13 hr ago
Silver started the week on a firmer track, edging closer to $60/oz, as traders returned to precious metals after the US-Iran tensions eased, sending crude prices plunging. The resulting weaker oil prices helped dampen inflation anxieties in the near-term and pushed the dollar lower. This created an ideal environment for silver, where its dual role as an ...
