Gold barely up to $4,109.90 as silver climbs to $58.415
Business
Gold prices barely budged on Monday, August 3, up just 0.07% to $4,109.90 per ounce, as tensions in West Asia cooled and the Federal Reserve kept everyone guessing about its next move on interest rates.
Silver was the real star, climbing over 1% to $58.415 per ounce.
Trump declines military action against Iran
Gold got a boost after President Trump decided not to take military action against Iran, which calmed worries about oil supply disruptions and helped lower crude prices.
That drop in oil eased inflation fears and made gold more attractive.
But ongoing talks at the Federal Reserve about possible rate hikes kept gold from rising further.
Investors are now waiting for key US economic data to see what happens next.