Gold surged on Monday after the United States and Iran announced a preliminary diplomatic agreement, lifting expectations of further oil supply disruptions. Spot gold rose 2.8% to $4,338.14 per ounce, while gold futures climbed to $4,359.09. The price jump attracted attention from investors monitoring both traditional markets and crypto‑related assets.
Oil Market Stabilizes
U.S. and Iranian officials confirmed a framework to end hostilities, a deal mediated by Pakistan and slated for signing in Switzerland on Friday. President Donald Trump asserted that the pact will reopen the Strait of Hormuz, a waterway that moves roughly 20% of global oil shipments. Brent crude futures retreated from above $110 a barrel to just over $80, reflecting the easing of geopolitical risk.
Gold Rally Boosts Investor Sentiment
The decline in the dollar index, which fell to its lowest level in ten trading sessions, reinforced gold’s upward momentum. Investors seeking a hedge against currency weakness turned to the yellow metal, driving its price higher. At the same time, crypto enthusiasts kept a watchful eye on blockchain developments, noting that market diversification often links gold and digital assets.