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Gold dips as oil climbs amid steady dollar

Gold dips as oil climbs amid steady dollar

Gold prices fell today after reaching their highest level in two weeks, following increased tensions in the Middle East which led to a rise in oil prices. Gold futures declined by 0.4% to $4,134.60 per ounce, down from $4,165.87 in the previous session. Meanwhile, oil prices rose by more than 1.5%, reaching their highest point in over six weeks, with Brent crude climbing to $96 and West Texas Intermediate (WTI) reaching $88.27. The dollar index remained steady at 101.11 points, as geopolitical events continued to influence the market.

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