Commodities
Gold Soars, Oil Slumps Ahead of US Sanctions Announcement
Commodity markets saw mixed performances on August 24, with gold and silver prices rising while crude oil declined due to profit-taking ahead of a potential US announcement on additional sanctions against Iran.
Brent crude fell by $1.22, or 1.29%, to $93.17 a barrel, while West Texas Intermediate crude dropped by $1.20, or 1.38%, to $85.86 a barrel as investors cashed in profits.
Gold prices reached near three-month highs, supported by a weaker dollar and increased demand for alternative assets following the US Treasury's intervention in the bond market, which raised concerns over currency stability.