Gold tops $4,100 as oil prices drop

Spot gold climbed 1.3% in Asian trading on Monday, with silver, platinum, and palladium all posting gains.

Staff Writer
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Article summary

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Gold climbed more than 1% in Asian trading on Monday, reaching $4,103.99 per ounce in spot markets, supported by falling oil prices. Silver, platinum, and palladium also posted gains of between 2% and 2.7%.

Key points

  • Spot gold rose 1.3% to $4,103.99 per ounce on Monday
  • Silver surged 2.7% to $59.74 per ounce
  • Palladium jumped 2.3% to $1,271.93 per ounce

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Gold rose more than 1% during Asian trading on Monday, buoyed by a fall in oil prices.

Spot gold was up 1.3% at $4,103.99 per ounce as of 00:58 GMT, while US August gold futures gained 0.9% to reach $4,106.10 per ounce.

Other precious metals moved in the same direction. Spot silver surged 2.7% to $59.74 per ounce, platinum rose 2% to $1,619.75, and palladium jumped 2.3% to $1,271.93 per ounce.