Middle East De-escalation Boosts Gold Amid Oil Price Volatility
Gold prices rose on Monday as markets reacted to easing tensions in the Middle East. The weaker US dollar and lower global bond yields also contributed to the increase.
The fall in oil prices, driven by a decline in global demand, eased concerns over inflation and monetary policy expectations. This had a positive impact on gold prices.
Market participants will be closely monitoring geopolitical developments and their impact on oil prices. Central banks are set to decide on interest rates this week, with the Federal Reserve deciding on Wednesday, followed by the Bank of England on Thursday and the Bank of Japan on Friday.