Gold Climbs as Pause in Mideast Fighting Curbs Inflation Risk

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Or sign-in if you have an account.Production of gold and silver coins and bars at Mennica Polska S.A. in Warsaw, Poland, on Thursday, Feb.12, 2026. Photographer: Damian Lemanski/Bloomberg Photo by Damian Lemanski /Bloomberg(Bloomberg) — Gold rose, after a pause in fighting between the US and Iran over the weekend eased oil supply risks and inflationary concerns.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountBullion rose as much as 1.1% to near $4,100 an ounce on Monday, having gained nearly 1% in the previous week. The US halted an almost two-week run of strikes against Iran without any explanation or announcement, while the Islamic Republic signaled it was refraining from retaliatory attacks and held talks with Oman to resolve the crucial issue of shipping via the Strait of Hormuz.Oil tumbled at the week’s open, with global benchmark Brent falling more than 7% to below $90 a barrel in the initial few minutes, before paring losses. That was despite missile attacks claimed by Tehran-backed Houthis in Yemen on facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againGold has largely hovered around $4,000 an ounce since late June, with a wave of dip-buying keeping the metal above the psychological threshold that some traders see as a key support. Bullion is down by more than a fifth since the US and Israel launched strikes on Iran in late February, helping to end a multiyear bull run that had carried the metal to a record near $5,600 the month before.After last month’s interim ceasefire, renewed fighting in the Middle East had stoked inflationary pressures in recent weeks and increased the likelihood that the Federal Reserve may raise interest rates, creating headwinds for non-yielding bullion. Fed watchers are expecting a rate decision this week to be contentious, with the recent rise in energy costs clashing with a tamer-than-expected reading on June consumer prices.Spot gold climbed 1% to $4,094.03 an ounce at 7:55 a.m. in Singapore. Silver jumped 2.7% to $59.72 an ounce. Platinum and palladium also advanced. The Bloomberg Dollar Spot Index, a gauge of the US currency, slipped 0.2%.—With assistance from Robin Paxton.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.