Gold Gains as Trump Holds Off on Iran Attack

Gold prices rose on Monday as oil prices fell following US President Donald Trump's decision to hold off on fresh attacks on Iran. This move slightly eased concerns over inflation and higher interest rates.

Spot gold was up 0.7% at $4,068.54 per ounce, while US gold futures rose 0.9% to $4,066.60. The decline in oil prices pushed the US dollar under pressure, making dollar-priced bullion more affordable for overseas buyers.

Market analysts believe that gold's gains are limited due to uncertainty surrounding the oil markets and the Middle East. Tim Waterer, chief market analyst at KCM Trade, said: 'It's an upbeat but guarded start for the metal.'