Brent Crude Oil

Oil prices increased in early trading on Monday as investors awaited signs that the Federal Reserve might start reducing interest rates as early as September. By early GMT, Brent crude had risen by 48 cents to USD 83.10 a barrel, while U.S. West Texas Intermediate crude gained 42 cents, reaching USD 80.55. 

Gold prices fell more than 1% as the dollar stabilized. Oil prices dropped more than $1, marking the fifth day of decline and setting a new four-month low

Weaker-than-expected US economic data strengthened expectations of a Fed rate cut, leading to a drop in the dollar and bond yields and helping gold rebound

Stronger dollar, rising US Treasury yields, and hawkish comments from Fed officials dampened market sentiment, causing spot gold to fall to a two-week low.

Aided by a weaker dollar and safe-haven buying due to geopolitical concerns, gold prices continued to rebound, recording three consecutive daily gains.

On Monday, gold prices rebounded by nearly 1%, influenced by geopolitical tensions and a weaker dollar.

Oil prices remained largely unchanged in early Asian trading on Monday as the market anticipated the upcoming OPEC+ meeting on June 2. Producers are expected to discuss maintaining voluntary output cuts for the rest of the year. 

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