LONDON – The price of gold in spot trading rose by 0.6 percent to $4,768.19 an ounce, after hitting its lowest level since April 7 in the previous session.
US gold futures for June delivery also rose 0.5 percent to $4,790.70 an ounce.
In contrast, oil prices fell below $100 a barrel, amid signs that dialogue between Washington and Tehran might resume, easing concerns about supply disruptions related to the situation in the Strait of Hormuz.
Read More
- Alizz Islamic Bank unveils new sustainability initiatives to empower Oman’s future generations
- Oil prices edge higher as markets assess Iran ceasefire prospects
- Oman’s Madinat Al Irfan achieves 1 million safe working hours at Business Park Phase 3
- Oman plans loan repayment freeze to support struggling SMEs due to geopolitical issues
- Oil drops, gold rises as banks reassess post-war market outlook
The dollar also stabilized near its lowest level in more than a month, making gold less expensive for holders of other currencies.
In other precious metals markets, silver rose 0.9 percent, platinum climbed 0.1 percent, and palladium gained 0.2 percent.
