Gold Prices Surge as Dollar Weakens and Tensions Ease in West Asia

Gold prices rose on Monday, July 27, to $4,104 an ounce, driven by a weaker US dollar and lower Treasury yields.

The precious metal's gain was part of a broader rally in the sector, with silver also advancing by over 1.5%.

The uptick in gold prices comes as tensions between Iran and the United States appear to be easing, reducing fears of a prolonged inflation spike.

Oil prices have fallen sharply on hopes that the conflict may not escalate further, which has eased concerns about fueling inflation and keeping interest rates elevated for longer.