Gold rose sharply on Monday morning, with spot prices touching 4,579 dollars as traders reacted to fresh remarks from Donald Trump on Iran peace negotiations and a slide in oil prices.
Spot gold was trading at about 4,564 dollars, up 1.24 percent, around 8:00 a.m. ET after setting that new high. U.S. gold futures settled at 4,560.30 dollars, up 0.8 percent. In Turkey, gram gold climbed to 6,734 lira before easing to 6,708 lira around 8:00 a.m., up 1.17 percent.
The move came as markets tracked a weaker dollar index and falling oil prices, which dropped to their lowest level in two weeks on Monday. Investors were also following U.S.-Iran diplomatic contacts and the possibility of a peace agreement, after Trump said on Saturday that Washington and Tehran had büyük oranda mutabakat sağladığını on a peace protocol to reopen the Strait of Hormuz, a waterway vital for global trade.
But the path to a deal still looked unsettled. Trump said on Sunday that he had told his team not to rush the Iran peace negotiations, saying aceleci olunmamalı. The talks were still reported to have disagreements over key negotiation points, even after three months of military activity in the region had kept traders on edge.
That mix of softer energy prices, a weaker dollar and unresolved diplomacy has kept precious metals supported, while the next signal for markets will be whether Washington and Tehran can narrow the remaining gaps before the latest round of expectations fades.
