Gold Tops $4,570 as Dollar Weakens and Oil Prices Fall
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Gold prices rose 1.4% in Monday trading to $4,570.88 an ounce, supported by a weaker dollar and declining oil prices. The move came as investors weighed the possible impact of any agreement between the United States and Iran on global market stability.
U.S. President Trump said he had instructed his envoys not to rush a deal with Iran, adding to market caution around the diplomatic track. The comments helped keep demand for gold elevated as traders sought havens.
Other precious metals also advanced. Silver gained 3.9%, while platinum and palladium rose by similar rates.