Gold recovers from monthly low as U.S. dollar softens
Spot gold rose 0.6% to $4,566.73 as a softer dollar supported a recovery from monthly lows. High oil prices and inflation fears continue to limit gains.
Gold rose 0.6% to $4,566.73 per ounce overnight as a softening United States dollar triggered a recovery from a one-month low. The rebound follows a drop to levels not seen since March 31, despite Brent crude prices staying above $119 per barrel. Investors are balancing a weaker dollar against persistent inflation fears and a divided Federal Reserve policy outlook.
### Oil Supply Risks and Dollar Dynamics Spot gold traded at $4,566.73 while June futures rose 0.4% to $4,578.50. The dollar eased during the overnight session, lowering the cost of greenback-priced bullion for international buyers. However, Brent crude remained above $119 per barrel as negotiations between the United States and Iran reached a deadlock.
