Gold rises 0.6% to $4,768.19 amid oil falling below $100
Business
Gold prices climbed 0.6% to $4,768.19 per ounce on Tuesday, recovering from the previous session's dip.
The jump comes as oil prices dropped below $100 a barrel, thanks to possible progress in U.S.-Iran peace talks that could ease tensions at the Strait of Hormuz.
With less worry about supply shocks and inflation, investors are turning back to gold.
US dollar dip lifts metals
The US dollar is at its lowest in over a month, making gold more attractive for buyers worldwide.
Hopes for a breakthrough in U.S.-Iran talks (and growing chances of a US interest rate cut) are also fueling the rally.
It's not just gold: silver rose 0.9%, platinum edged up 0.1%, and palladium gained 0.2%, showing metals are having a moment as inflation fears fade and the dollar softens.