Shafaqna English– Gold prices registered gains on Monday(3 Aug 2026), driven primarily by a retreat in crude oil values. This decline in oil came after U.S. President Donald Trump refrained from launching new military strikes against Iran, choosing instead to pursue a diplomatic pathway in the expectation of reaching a swift agreement.
The resulting calm in energy markets helped alleviate some of the prevailing anxiety among investors regarding persistently high inflation and the potential for further monetary tightening by the Federal Reserve.
In terms of pricing, spot gold appreciated by 0.4% to reach $4,055.76 per ounce by 0210 GMT. Concurrently, U.S. gold futures demonstrated a more pronounced upward movement, climbing 0.9% to settle at $4,054.00.
The relatively stronger performance of futures contracts suggests that market participants are pricing in further bullish momentum for the precious metal in the medium term, possibly in anticipation of a softer interest rate outlook should geopolitical tensions continue to de-escalate.