Gold gains as oil drops after Trump delays Iran strike

Gold prices rose today, Monday, after U.S. President Donald Trump postponed strikes on Iran, which eased tensions and increased its appeal as a safe haven. The spot price of gold reached $4,068.54 per ounce, up by 0.7%, while futures contracts climbed to $4,066.60, an increase of 0.9%. Market support came from a declining dollar and government interventions to support the yen, despite ongoing uncertainty in the Middle East and concerns over inflation caused by the war. Markets are eagerly awaiting U.S. job market data to determine the future direction of interest rates, amid a noticeable rise in the prices of other metals such as silver, platinum, and palladium.

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