Gold Prices Rise as Trump's Iran Policy Eases Inflation Fears
Gold prices rose on Monday as easing inflation concerns supported demand following US President Donald Trump's decision to freeze any new military strikes on Iran. This move led to a decline in crude oil prices, which fell more than 5%.
The decrease in oil prices eased inflation concerns, causing gold to gain. The US dollar index also fell 0.2% to 99.71.
According to Tim Waterer, chief market analyst at KCM Trade, gold started the week on a relatively positive note, but gains remained limited due to ongoing uncertainty in oil markets.