Gold Climbs as Oil Prices Fall on Trump's Iran Hesitation

Gold prices rose on Monday as oil prices fell after US President Donald Trump held off on fresh attacks on Iran, easing concerns over inflation and higher interest rates.

Spot gold was up 0.4% to $4,055.76 per ounce, while US gold futures rose 0.9% to $4,054.00.

The US dollar came under pressure after authorities intervened in the foreign exchange market to support the yen, making dollar-priced bullion more affordable for overseas buyers.

Analyst Tim Waterer said that gold's gains remain limited due to uncertainty around oil markets and the Middle East.