Oil dips below 93, gold rises past 4,650
Oil prices declined by more than 1.76% on Monday, amid profit-taking and anticipation of a potential American announcement regarding the imposition of further sanctions on Iran, which could threaten oil supplies from the Middle East. These expectations come at a time when the U.S. Federal Reserve continues to monitor inflation and as the Fed Chairman's remarks about the future of interest rates support gold prices reaching their highest level in three months. Additionally, tensions between the United States and Iran, although leading to restrictions on oil shipments through the Strait of Hormuz, have contributed to previous gains in crude oil that have persisted for the second week, despite the decline in prices today.
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