Gold Rises in Early Asian Trade After US and Iran Ceasefire Over Weekend
Deep News
1 hour ago
Gold prices advanced during the Asian trading session.
Spot gold climbed 1.0% to $4,093.89 per ounce. The downward pressure on the metal may have eased as oil prices retreated, bond yields edged lower, and the US dollar weakened. The US and Iran also observed a ceasefire over the weekend, potentially contributing to the decline in oil prices. Lower oil prices could help curb global inflation pressures, thereby alleviating concerns over tighter monetary policy. A higher interest rate environment typically weighs on non-yielding assets like gold.
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