Gold Rises Near $4,070 as Trump Announces Iran Talks and Brent Drops 7%
Updated
Updated · Bloomberg · Aug 3
Gold Rises Near $4,070 as Trump Announces Iran Talks and Brent Drops 7%
3 articles · Updated · Bloomberg · Aug 3
Summary
$4,070 an ounce marked gold’s level after Donald Trump said fresh negotiations with Iran would begin later Monday, lifting hopes the months-long conflict could ease without a wider military escalation.
Brent crude fell more than 7% in Asia, signaling lower energy-price pressure and reducing concern that conflict-driven inflation could force interest rates higher.
Trump said he had called off a massive attack on Iran after Middle East allies, including Saudi Arabia, urged him to pursue a deal instead.
July ended with a 1% gain for bullion—its first monthly advance since February—leaving gold supported even as easing oil prices shifted the immediate inflation outlook.