Gold Up Oil Down After Trump Delays Iran Action
Gold prices rose today by 0.7%, reaching around $4,067 per ounce in today's trading, following a decline in oil prices after U.S. President Donald Trump canceled a new attack on Iran. This step alleviated fears of military escalation and its impact on inflation and interest rates. Oil prices also decreased by about 4.6%, to approximately $83.90 for Brent crude and $79.68 for West Texas Intermediate, after Trump postponed the attack despite escalating tensions between the United States and Iran. The market is also closely watching important U.S. economic reports this week, including employment data and unemployment claims, amid concerns that inflation remains above the Federal Reserve's target, putting pressure on interest rate hikes.
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