Gold Rallies Amid Oil Price Decline and Eased Tensions

The gold price has continued its upward trend for a second consecutive session, trading around $4,103 per troy ounce in Asian hours. This move follows a steep pullback in oil prices, which has eased concerns about renewed inflation pressure and the prospect of additional interest rate hikes.

Traders are bracing for a packed week of Fed, BoE, and BoJ decisions alongside major US, Eurozone, and Australian data releases. These events could inject fresh volatility into global assets.

The gains in gold have also been supported by a pause in hostilities between the United States and Iran, which has eased immediate escalation risks.