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Gold Gains 0.7% Amid Falling Oil
Gold prices rose by 0.7% to approximately $4,067 per ounce, amid a decline in oil prices of more than 5% after U.S. President Donald Trump announced his decision not to strike Iran again, instead preferring to pursue an agreement to halt Iran's nuclear program and fully open the Strait of Hormuz. In contrast, other precious metals such as silver, platinum, and palladium increased by 0.7%, reaching $58.02, $1,653.78, and $1,293 per ounce, respectively. These market movements come amid anticipation of the U.S. Federal Reserve’s decision, while the fall in oil prices reflects concerns over how regional tensions might impact the global energy market.
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