Gold prices rose by more than 1% on Monday, supported by a weaker U.S. dollar and lower oil prices, as investors assessed the prospects for progress in peace negotiations between the United States and Iran.
اضافة اعلان
As of 00:45 GMT, spot gold was up 1.4% at $4,570.88 per ounce, while U.S. gold futures for June delivery gained 1.1% to $4,572.90 per ounce.
The decline in the dollar made the dollar-denominated precious metal less expensive for holders of other currencies.
U.S. President Donald Trump said on Sunday that he had instructed his representatives not to rush into any agreement with Iran, as his administration tempered expectations of an imminent breakthrough in the three-month-long war, after optimism had risen the previous day.
Trump had also said on Sunday that Washington and Tehran had completed “a substantial amount of negotiation” on a memorandum of understanding for a peace agreement that would reopen the Strait of Hormuz.
Oil prices fell to their lowest levels in two weeks on Monday amid optimism that the United States and Iran were nearing a peace agreement, despite continuing disagreements over key issues.
Among other precious metals, spot silver rose 3.9% to $78.42 per ounce, platinum gained 1.9% to $1,959.85 per ounce, and palladium increased 1.9% to $1,373.25 per ounce.
Reuters
