Why did gold prices rise on Monday according to the news?

Gold prices rose on Monday because U.S. President Donald Trump held off on a fresh attack on Iran in hopes of reaching a swift deal, which eased concerns about inflation and higher interest rates — factors that had previously pressured gold, as rising rates diminish bullion’s appeal due to its lack of yield.

What was the spot gold price and how did it change, as reported in the news?

Spot gold was up 0.7% at $4,067.06 per ounce as of 0023 GMT, while U.S. gold futures rose 0.9% to $4,065.60 — reflecting increased demand for the metal amid reduced geopolitical escalation fears following Trump’s announcement.

Gold gains as oil slumps after Trump holds off on Iran attack

Aug 2, 2026

Gold rose 0.7% and oil dropped over $5 per barrel after Trump delayed military action against Iran, easing inflation fears. Precious metals gained value, with palladium producer Norilsk Nickel reporting sharp profit increases.

reuters

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