The withdrawal of oil saved the price of gold from falling. The markets await the results of the negotiations in Doha and signals from the Federal Reserve.
According to Reuters, the price of gold rose again on Monday after falling sharply in previous trading. The retreat of oil prices and the reduction of inflation concerns, along with the evaluation of the statements of the senior Federal Reserve regarding the future course of interest rates in the US, were among the factors supporting the gold market. At the same time, the hope for the progress of the negotiations between Iran and Qatar and the end of the war between the US and Israel in Iran reduced the price of oil by more than 3% and alleviated some of the concerns of the energy market.
The price of each ounce of gold in cash reached $3,000,903 and 90 cents by 11:27 Iran time with an increase of 0.8%. This was while gold fell to its lowest level in a year in the previous trade.
In other precious metals markets, silver rose 2.5% to $50.33 an ounce. Platinum traded relatively stable at the level of 1,431 dollars and 50 cents.
Report details.