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FinanceGold edges higher as softer dollar offsets easing geopolitical tensions
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Gold prices rose modestly on Monday, with spot gold climbing 1.1% to $4,096.36 per ounce, supported by a weaker U.S. dollar and a pause in military operations between the United States and Iran. The U.S. Dollar Index fell 0.3%, making gold cheaper for foreign buyers. Crude oil prices dropped over 5% after President Trump halted a 13-night bombing campaign against Iran and Iran refrained from retaliatory attacks over the weekend, easing fears of supply disruptions. Investors are now focused on the Federal Reserve's policy decision on Wednesday, where rates are expected to remain unchanged, but Chair Kevin Warsh's comments on inflation and future rate cuts will be closely watched. Other metals also gained, with silver up 2.1% to $59.39 per ounce, platinum rising 2.3% to $1,630.83, and copper adding 0.4% on the London Metal Exchange.
Source report
Fiona Craig Mon, July 27, 2026 at 3:13 AM PDT | 2 min read
- GC=F: -1.27%
- DX-Y.NYB: -0.13%
- CL=F: -4.35%
Large gold nugget ©James St. John
Gold prices posted modest gains on Monday as a weaker U.S. dollar provided support, while investors balanced signs of easing tensions in the Middle East against expectations for this week's U.S. Federal Reserve policy announcement.
Spot gold climbed 1.1% to $4,096.36 an ounce by 06:52 GMT, while August U.S. Gold Futures advanced 0.68% to $4,098.60 an ounce.
The precious metal ended last week with a gain of nearly 1%, despite volatile trading conditions.
Weaker Dollar Boosts Bullion Demand
The U.S. Dollar Index slipped 0.3% on Monday, making gold more affordable for investors using other currencies and helping to underpin demand for the metal.
Gold also found support after crude oil prices retreated sharply as the United States and Iran maintained a pause in military operations over the weekend.
President Donald Trump halted the U.S. bombing campaign on Friday after 13 consecutive nights of strikes against Iranian targets to create room for diplomatic negotiations.
Iran also refrained from launching retaliatory attacks on neighbouring countries hosting U.S. military bases during the weekend.
Meanwhile, oil prices dropped more than 5%, reversing part of last week's rally that had been fuelled by concerns over disruptions to energy shipments through the Strait of Hormuz and the Red Sea.
While lower energy prices may help ease inflationary pressures, investors remain focused on how the Federal Reserve will assess the economic outlook following recent geopolitical volatility.
Federal Reserve Meeting in Focus
Market attention is now centred on Wednesday's Federal Reserve policy decision.
The U.S. central bank is widely expected to leave interest rates unchanged, although investors will closely examine comments from Chair Kevin Warsh for indications on the timing of future interest rate cuts and policymakers' assessment of inflation risks.
Markets will also monitor upcoming U.S. economic releases, including inflation figures and labour market data, for further clues about the Fed's next policy moves.
Silver, Platinum and Copper Also Advance
Elsewhere in the metals market, silver gained 2.1% to $59.39 per ounce, while platinum rose 2.3% to $1,630.83 per ounce.
Industrial metals also moved higher, with benchmark copper futures on the London Metal Exchange adding 0.4% to $13,693.58 per tonne. U.S. Copper Futures were little changed at $6.36 per pound.
Gold price
Source
Yahoo FinanceWestern
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