
Gold climbed above $4,050 an ounce on Monday, recovering losses from the previous session after President Donald Trump said peace talks with Iran will resume today, sending oil prices lower and easing concerns over inflation and the interest rate outlook. Trump said key Middle Eastern allies, including Saudi Arabia, urged him to suspend planned strikes and pursue a diplomatic agreement instead, while reiterating his call for the swift reopening of the Strait of Hormuz. Investors also turned their focus to a packed week of US labor market data, highlighted by Friday’s closely watched monthly jobs report. Last week, the Federal Reserve left interest rates unchanged, although three officials dissented, warning that delaying action for too long could eventually require more aggressive policy tightening. Markets are currently pricing in about a 68% chance of a 25 basis point Fed rate hike in September.





