Middle East Tensions Ease, Gold Prices Rise

Gold prices rose on Monday following a temporary pause in military attacks in the Middle East, which led to a sharp decline in oil prices and eased some inflation concerns.

The US dollar index fell by 0.3% to 101.18 points.

A senior Iranian official told Reuters that Iran would halt its attacks as long as the United States does the same.

Markets expect the Federal Reserve to leave interest rates unchanged at its July 28-29 meeting, but a CME FedWatch Tool indicates a 76% probability of a rate hike in September.