Gold gains as oil slumps after Trump holds off on Iran attack

Gold rose on Monday as oil prices tumbled after US President Donald Trump held off on a fresh attack on Iran in hopes of ​a swift deal, slightly easing concerns about inflation and higher interest rates. Spot ‌gold was up 0.7% at $4,067.06 per ounce, as of 0023 GMT. U.S. gold futures rose 0.9% to $4,065.60. Trump said late on Saturday on his Truth Social platform that Iran and other ​Middle Eastern countries had asked for time to complete a deal that ​would lead to “the Immediate, Complete and Total” reopening of the ⁠Strait of Hormuz and “an end to Iran’s nuclear threat”.