Gold Gains as Iran Talks Ease Concerns Over Interest-Rate Hike

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessGold Gains as Iran Talks Ease Concerns Over Interest-Rate HikeGold advanced after US President Donald Trump said fresh negotiations with Iran would begin later Monday, raising hopes for a breakthrough in the months-long conflict that would ease energy-driven inflation.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.jpp)c7hxm]95pqoh5}30{rgm_media_dl_1.png Bloomberg(Bloomberg) — Gold advanced after US President Donald Trump said fresh negotiations with Iran would begin later Monday, raising hopes for a breakthrough in the months-long conflict that would ease energy-driven inflation.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 was trading around $4,070 an ounce, having seen out July with a 1% gain — its first monthly increase since February. Trump said on Sunday that he had called off a massive attack on Iran after allies in the Middle East, including Saudi Arabia, asked him to pursue a deal instead. Benchmark Brent crude fell more than 7%.Bullion traders are also closely monitoring the Federal Reserve’s next steps after the New York Times reported Chairman Kevin Warsh as saying he was considering reducing the frequency of policy meetings. Any reduction would mark a significant shift for the US central bank, which currently meets eight times a year and last Wednesday voted 9-3 to hold interest rates steady.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 againInvestors have criticized Warsh’s attempts to limit guidance to markets on the direction of rates, and the Fed is under mounting pressure to do more to curb inflation. The three officials who dissented last week warned that waiting too long to act could risk the need for even more aggressive policy moves later.Gold is down by more than a fifth since the US-Iran war began more than five months ago, with high energy prices stoking inflationary pressures and raising the likelihood that interest rates will stay higher for longer — a headwind for precious metals, which don’t pay interest.Spot gold was 0.6% higher at $4,070.21 an ounce as of 7:39 a.m. in Singapore. Silver rose 1.2% to $58.26 an ounce. Platinum and palladium also advanced. The Bloomberg Dollar Spot Index, a gauge of the US currency, was 0.2% lower.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.