Gold jumps over 1% to $4,570.88 an ounce on Monday
Gold prices shot up over 1% on Monday, mainly because the dollar got weaker and oil prices dropped.
Spot gold hit $4,570.88 an ounce, making it more affordable for people using other currencies.
All eyes are also on the ongoing U.S.-Iran peace talks, but hopes for a quick deal faded after President Trump told negotiators to take things slow.
Precious metals rally as oil slides
It wasn't just gold making moves: silver climbed nearly 4%, while platinum and palladium both rose about 2%.
Oil prices slid to two-week lows as traders watched the U.S.-Iran situation unfold.
Meanwhile, demand for gold in India dipped due to price swings, and Chinese gold premiums slipped too.
Even speculators trimmed their bets on gold last week, showing that some are feeling cautious about where things go next.