Odaily reported that, according to Gate data, spot gold rose by $30 in short-term trading and broke above $4,130 per ounce. The intraday gain reached 1.4% at the time of the update. The move came after remarks from Trump regarding a planned action involving Iran.
Oil prices moved lower in the same news update. WTI crude fell by $1 in short-term trading, while Brent crude’s intraday decline widened to $4. Brent was quoted at $89.74 per barrel, down 4.27%, according to the figures included in the flash report.
On the news front, Trump said he had canceled the planned strikes and bombing against Iran tonight. Following that statement, spot gold moved sharply higher, while WTI and Brent crude both declined based on the short-term and intraday price data cited by Odaily. No additional details about the canceled action were included in the report.