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Gold rises over 2% from one-year low on softer oil prices; US midterms in focus
Gold prices rose more than 2% on Monday, rebounding from a one-year low hit in the previous session, supported by a retreat in oil prices that tempered inflation worries, while investors awaited US midterm elections later this week. Spot gold rose 2.1% to $3,957.19 per ounce at 1049 a.m. ET (1411 GMT), having ended 3.6% lower and hit its lowest since October 2025 on Friday. US gold futures for December delivery rose 1.77% to $3,967.40 per ounce. Oil prices fell more than 6% on Monday after Iran and Qatar held a third consecutive day of talks aimed at ending the US-Israeli war on Iran. “Weaker ...
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