Gold Slips Below Three-Month High as Oil Prices Plummet

Gold prices edged lower on Wednesday but remained near a three-month high due to softer oil prices and declining U.S. Treasury yields, which eased inflation concerns.

WTI crude oil prices fell sharply, extending losses from the previous session after media reports suggested that the U.S. and Iran had agreed to a ceasefire deal.

Copper futures climbed above $6.70 per pound, hitting a fresh all-time high as persistent supply-side risks continued to support prices despite a recent easing in the market squeeze.