03.08.2026 10:28
US President Donald Trump's decision regarding the Iran war and his announcement that negotiations would resume caused activity in the markets. As the week began with oil prices falling by more than 5 percent, the price of gold per ounce recorded an increase.
US President Donald Trump stated that negotiations with Iran will resume on Monday, August 3, and that he is optimistic about reaching a deal. Trump expressed his expectation that an agreement could soon be reached regarding the opening of the Strait of Hormuz and the denuclearization of Iran.
SHARP DROP IN OIL PRICES
The repercussions of the US halting its strikes against Iran were directly reflected in the first pricing of the week. In light of these developments, Brent oil was priced at $83.35 as of 06:00 CET. The daily decline in oil exceeded 5 percent.
GOLD STARTED THE DAY WITH A RISE
An upward momentum was observed in gold prices. The ounce price of gold, which closed July trading with a 0.94 percent gain after a 4-month decline and finished Friday at $4,045, started the day at $4,063 this morning as of 06:00 CET.