Gold approaches $4,200 as falling oil prices boost bullish sentiment

Gold prices moved closer to $4,200 per ounce on Monday as a decline in oil prices provided fresh momentum, even as investors continued watching for further policy tightening from the Federal Reserve later this year. Spot gold rose 0.3% to $4,175.60 by 0259 GMT, and December US gold futures gained 0.4% to $4,196.40. The uptick in gold followed President Donald Trump’s decision to waive select sanctions and tariffs impacting Russia, potentially increasing the flow of Russian fuel into global markets. Historically, easing geopolitical tensions might reduce demand for gold as a safe-haven asset.

Source: CoinTurk News