Gold rebounds above $4,100 as US-Iran talks ease rate concerns

Gold prices recovered above $4,100 an ounce in electronic trade on Monday after US President Donald Trump announced the resumption of peace talks with Iran, triggering a more than 7% plunge in oil prices and easing concerns over inflation and the interest-rate outlook. Trump said key Middle Eastern allies, including Saudi Arabia, had urged him to suspend planned strikes and pursue diplomacy, while calling for the Strait of Hormuz to reopen swiftly. Meanwhile, the dollar index slipped below 99.4 for a fifth consecutive session after Japan confirmed coordinated yen-buying operations with the US. Investors are also awaiting a busy week of US labour-market data, culminating in Friday?s monthly jobs report, after the Federal Reserve kept rates unchanged last week amid three dissenting officials. On the MCX, October gold futures rose 0.2% to ₹1,43,606 per 10 grams.

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