Gold Prices Rise as Dollar and Oil Ease on U.S.-Iran Deal Prospects
Spot gold rose 1.1 percent to $4,559.07 per ounce on Monday. U.S. gold futures for June delivery gained 0.8 percent to $4,559.80.
S. 80. -Iran negotiations reduced the dollar's value and lowered oil prices.
Trump stated on Saturday that Washington and Iran had largely negotiated a memorandum of understanding on a peace deal that would reopen the Strait of Hormuz. S. will either reach a good agreement with Iran or deal with the country another way. The dollar reached its lowest levels in a week, making gold priced in dollars more affordable for foreign buyers.
Oil prices fell to two-week lows, easing inflation expectations that can influence interest-rate decisions.
79 per ounce.
70.
Key Facts
Story Timeline
4 events- Saturday
President Trump stated Washington and Iran had largely negotiated a memorandum of understanding.
1 sourceCnbc - Friday
Kevin Warsh was sworn in as chair of the U.S. Federal Reserve.
1 sourceCnbc - Monday
Secretary of State Marco Rubio said the U.S. will either reach a good agreement with Iran or deal with the country another way.
1 sourceCnbc - Monday
Spot gold rose 1.1 percent to $4,559.07 per ounce as of 0736 GMT.
1 sourceCnbc
Potential Impact
- 01
Lower oil prices could reduce near-term inflation pressure on U.S. consumers.
- 02
A weaker dollar may increase the cost of imported goods for U.S. buyers.
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