Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
Spot gold rose 0.5% to $3,290 per ounce by 06:13 GMT, recovering from its lowest point since 29 May earlier in the session. U.S. gold futures also gained 0.4%, reaching $3,301.
Market sentiment was buoyed by easing trade friction between the U.S. and China, as well as improving geopolitical conditions. This shift boosted risk appetite and lifted global equities, while weighing on the dollar, which fell 0.3%. A softer dollar typically supports gold by making it cheaper for buyers using other currencies.
“There is less of a ‘doom and gloom’ outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets,” said Tim Waterer, Chief Market Analyst at KCM Trade.
Asian stock markets strengthened, and Wall Street futures pointed higher as traders responded to diplomatic progress. U.S. Treasury Secretary Scott Bessent on Friday cited key breakthroughs in negotiations over rare earth shipments from China and said several trade deals could be finalized by the 1 September Labor Day deadline.
In a related development, Canada rescinded its planned digital services tax on U.S. tech companies just hours before implementation, a move aimed at reviving stalled trade talks with Washington.
Meanwhile, a ceasefire between Iran and Israel appeared to be holding after 12 days of conflict, contributing to the broader decline in safe-haven demand.
Waterer noted that while gold found support from a weakening dollar, the $3,250 level remains a key technical threshold.
“Any breach of this level could see losses accelerate towards the $3,200 level,” he added.
Gold’s performance continues to be weighed by stable global conditions and a high-interest-rate environment, which dulls the appeal of non-yielding assets like bullion.
In other precious metals, spot silver gained 0.5% to $36.16 per ounce, platinum rose 2% to $1,366.63, and palladium increased 1.6% to $1,151.36.
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Global oil prices reached a four year high on Monday (9 March), surpassing $119 a barrel, as conflict in the Middle East rumbled on. Meanwhile, the Turkish Military said NATO air defence systems destroyed a missile fired from Iran towards the country.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Iranian civilian and military officials have pledged their obedience to the new leader, Ayatollah Seyed Mojtaba Khamenei, with President Masoud Pezeshkian saying his leadership “will herald a new era of dignity and authority for the Iranian nation.”.
Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, is a hardline cleric with strong backing from the Islamic Revolutionary Guard Corps. His rise signals continuity in Tehran's anti-Western policies.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
Global debt surged to a record $348.3 trillion at the end of 2025, after nearly $29 trillion was added over the year, marking the fastest annual increase since the pandemic, according to the Institute of International Finance (IIF) report released on Wednesday.
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