Gold prices rose on Monday as oil prices fell sharply after US President Donald Trump delayed further attacks on Iran and indicated that talks would take place.
Spot gold increased 0.6% to $4,063.35 an ounce, while US gold futures rose 0.1% to $4,053.70.
Brent crude fell nearly 6% after Trump said negotiations with Iran were scheduled for Monday. He did not set a deadline for an agreement. The decline in oil reduced immediate concerns that the conflict could drive inflation higher and force central banks to raise interest rates.
That shift supported gold. The metal does not pay interest, so higher rates can reduce its appeal compared with interest-bearing assets. Although gold is often used as protection against inflation, a prolonged rise in borrowing costs can limit demand.
The US dollar also weakened after authorities intervened in foreign exchange markets to support the yen. A weaker dollar makes gold cheaper for buyers using other currencies and can increase international demand.
Cora Gold Ltd (LON:CORA), together with its subsidiaries, explores for and develops mineral projects in West Africa. The company primarily explores for gold deposits. Its flagship project is the Sanankoro Gold project located in the Yanfolila Gold Belt, Southern Mali.
