Commodities
Dollar Strengthens Amid Geopolitical Tensions, Gold Prices Decline
Gold prices declined on Monday as investors assessed geopolitical developments in the Middle East and their implications for inflation and global interest rates.
The dollar index, which measures the performance of the US currency against a basket of six major currencies, edged up 0.1% to 100.31.
The decline in gold prices was accompanied by lower oil prices amid expectations for diplomatic opportunities to end the US-Iran conflict on the sidelines of the United Nations General Assembly meetings.
President Donald Trump warned that Iran would face economic failure or the elimination of its leadership if it did not reach an agreement, while the Iranian military said it would respond forcefully to any new attack, Reuters reported.