Gold rises 1% to $4,094.03 an ounce as US-Iran pause eases inflation fears
AI Market Summary
A weekend pause in US-Iran hostilities reduced perceived oil-supply disruption risk, driving Brent sharply lower and cooling near-term inflation fears. That eases pressure on Fed rate-hike expectations, improving the macro backdrop for non-yielding bullion. Gold rose about 1% toward $4,100, supported by sustained dip-buying around the $4,000 level, while broader precious metals also advanced.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.79%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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The US and Iran paused military action over the weekend, while Iran also held talks with Oman over shipping through the Strait of Hormuz. Brent crude sank more than 7% at the open to below $90 a barrel, while gold climbed 1% to $4,094.03 an ounce. Gold had held support near $4,000 for weeks, and the easing of geopolitical risk pushed down inflation expectations and reduced pressure for the Federal Reserve to raise rates, offering short-term support for bullion.
