XAU/USD climbs to 4,103 as easing geopolitical tensions and lower oil prices reduce inflationary pressures ahead of key central bank meetings.
Gold prices extended gains for a second day, trading near 4,103 USD per troy ounce in Asian hours Monday. The rally followed a sharp drop in oil prices, which eased concerns over inflation and potential interest rate hikes.
Investors now focus on a packed week of economic data and central bank decisions, including the Federal Reserve, Bank of England, and Bank of Japan. Key releases like US GDP, core PCE inflation, and Eurozone CPI will shape rate expectations.
A pause in US-Iran hostilities over the weekend further supported gold’s rise, as Tehran held back retaliatory strikes after Washington suspended its bombing campaign.