Gold rises over 1% as softer oil prices ease inflation worries
Executive Brief • Key Highlights
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- ✓Gold rose more than 1% on Monday as softer oil prices eased inflation concerns.
- ✓Spot gold climbed 1.4% to $4,123.46 per ounce.
- ✓Tim Waterer said, "Trump's more conciliatory tone toward Iran is helping keep a lid on oil prices." Investors now await key US inflation data due on Tuesday and Friday.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Gold rose more than 1% on Monday as softer oil prices eased inflation concerns, while investors awaited key US inflation data and fresh signals from the Federal Reserve on its policy outlook.
Spot gold climbed 1.4% to $4,123.46 per ounce by 0428 GMT, while US gold futures for December delivery also rose 1.4% to $4,132.70. Bullion gained about 5% last week.
Oil prices fell after US President Donald Trump said he was highly unlikely to order further attacks on Iran as talks to end the conflict continued, easing concerns about potential supply disruptions.
Lower oil prices can ease inflationary pressures and reduce expectations that interest rates will stay higher for longer, lowering the opportunity cost of holding non-yielding bullion.
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