Gold rises over 1% as softer oil prices ease inflation worries - Investify

AI desk brief

Spot gold rose 1.4% to $4,123.46/oz by 0428 GMT Monday, following an approximately 5% gain last week; December US futures gained 1.4% to $4,132.70. Business Recorder attributed support to a softer dollar and easing oil-driven inflation concerns after President Trump said further Iran strikes were unlikely while talks continued. A policy counterweight remained: October employment data lifted traders’ estimated probability of a December Fed rate increase to 81% from 71%, with CPI due Tuesday and PPI Friday. Silver, platinum and palladium rose 2.5%, 1.3% and 2.1%, respectively; subsequent direction could depend on inflation data and policy expectations.