Global gold rates also traded lower on Monday on back of a stronger dollar and rising crude oil prices. “Oil’s uptick in price, combined with the still-elusive US-Iran deal, is just enough to keep gold off balance at the start of the week” Tim Waterer, chief market analyst at KCM Trade told Reuters. He also said “by the end of 2026, gold still has potential to hit $5,500 should favourable circumstances arise, notably lower oil prices and a depreciation of the dollar, underpinned by continued robust central bank buying and its role as a geopolitical and inflation hedge.”
