Forex
Gold Prices Climb on Weaker Oil and Easing Inflation Fears
Gold prices rose on Tuesday as investors took in mixed signals from potential U.S.-Iran talks and awaited key U.S. labor market reports for clues on the Federal Reserve's interest-rate trajectory.
The precious metal gained 0.6% to $4,078.10 per ounce, with U.S gold futures rising 1.1% to $4,134.60.
A decline in oil prices contributed to gold's increase, said Bart Melek, global head of commodity strategy at TD Securities, who noted that lower oil has 'probably' driven up gold prices and fallen interest rate hike bets.