On Monday, gold rose more than 1% as softer oil reduced inflation concerns and
investors awaited key U.S. inflation data and fresh signals from the Fed on
policy. Oil fell after U.S. President Trump said he is highly unlikely to order
further strikes on Iran and negotiations to end the conflict are continuing,
easing supply-disruption fears. KCM Trade chief market analyst Tim Wotler said
Trump’s softer stance helped cap oil, and a modest retreat in the dollar has
eased some inflation pressure that had weighed on gold.