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Commodities

Gold Prices Climb as Oil Prices Plummet Following Trump's Decision on Iran

Guavy AI Editorial Team
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Oil Gold
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Gold prices rose on Monday as oil prices plummeted after US President Donald Trump announced that he would not attack Iran, easing concerns over inflation and higher interest rates.

The spot gold price increased by 0.4% to $4,055.76 per ounce, while US gold futures rose 0.9% to $4,054.00.

The decline in oil prices, which fell more than 5%, is a key factor contributing to the increase in gold prices.

Tim Waterer, chief market analyst at KCM Trade, said that while the start of the week has been 'upbeat' for gold, gains remain limited due to uncertainty around oil markets and the Middle East.

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