Gold prices are trading positively on Monday, driven by market uncertainty and an increased demand for safe-haven assets.

Gold (XAU/USD) has been one of the major beneficiaries of the US Dollar sell-off on Monday. The Precious metal has surged about $60 so far, as the US dollar drops across the board on a mix of trade uncertainty and looming woes about the US fiscal health.

Buy the rumour, sell the news in Oil prices, as the US benchmark WTI appreciates about $2.5 so far today, despite the output hikes announced by OPEC+ members, fresh threats of US tariffs and new trade tensions between the US and China.

OPEC+ agreed to another large supply hike over the weekend, increasing it by 411k b/d effective July. The increase is similar to those in May and June.

Silver prices (XAG/USD) rose on Monday, according to FXStreet data.

West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $61.90 per barrel, up from Friday’s close at $60.30.

Silver (XAG/USD) edges higher at the start of a new week and retakes the $33.00 mark during the Asian session, reversing a part of Friday's losses. The intraday uptick, however, lacks bullish conviction, warranting some caution before positioning for any meaningful appreciating move.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $61.90 during the Asian trading hours on Monday. The WTI price jumps due to ongoing tariff uncertainty and the persistent geopolitical tensions in the Middle East. 

Gold prices rose in India on Monday, according to data compiled by FXStreet.

Gold price slumped on Friday as the US Dollar recovered some ground despite witnessing a drop in US Treasury bond yields following a strong inflation report, which keeps traders hopeful that the US Federal Reserve (Fed) will ease policy in 2025. XAU/USD trades at $3,289, down 0.83%.

United States Baker Hughes US Oil Rig Count fell from previous 465 to 461

CTAs will continue to sell crude and industrial metals (x-copper) in most scenarios for prices by this time next week. In the imminent term, CTA selling activity will continue to weigh on price action into the OPEC meeting, TDS' Senior Commodity Strategist Daniel Ghali notes.

This is one of those moments where Gold markets are offering a gift, TDS' Senior Commodity Strategist Daniel Ghali notes.

Silver price (XAG/USD) is down almost 1% near the key level of $33.00 during North American trading house on Friday. However, the white metal strives to gain ground as renewed trade tensions between the United States (US) and China are limited the upside in the US Dollar (USD).

The price of Gold briefly fell below the USD 3,250 per troy ounce mark on Thursday after it was announced that a US court had declared most of the tariffs imposed by US President Trump to be illegal, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

Yesterday's weekly US inventory report halted the slide on the oil market, Commerzbank's commodity analyst Barbara Lambrecht notes.

The press statement following Wednesday's OPEC+ meeting was extremely short.

Gold price (XAU/USD) slides to near $3,290 during European trading hours on Friday, following a strong upside move the previous day.

Gold prices are once again supported by geopolitical uncertainty. While prices dipped slightly after tariff delays, ongoing trade tensions continue to drive demand for the safe-haven meta, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

The Oil market is likely to be eagerly awaiting tomorrow's decision by the eight OPEC+ countries that have voluntarily cut their production.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data.

WTI Oil prices reversed gains on Thursday, after the US Court of Appeals reversed a sentence from a lower court to block Trump's trade tariffs.

West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $60.41 per barrel, down from Thursday’s close at $60.61.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $63.08 after its previous daily close at $63.30.

Gold prices fell in India on Friday, according to data compiled by FXStreet.

Gold price bounced off weekly lows of $3,245 and rose past $3,300 on Thursday, helped by a softer jobs report in the United States (US), while markets cheered a US court decision to block US President Donald Trump’s tariffs. At the time of writing, XAU/USD trades at $3,318 and gains 0.94%.

United States EIA Crude Oil Stocks Change came in at -2.795M below forecasts (1M) in May 23

Crude markets only have a very narrow path towards higher prices. In the imminent term, CTA selling activity will weigh on price action into the OPEC meeting.

Gold price (XAU/USD) claws back the majority of its initial losses in Thursday’s European trading session, recovers to near $3,300 from the weekly low of $3,245 posted earlier in the day.

Copper inventories on the LME fell to the lowest level in almost two years, with withdrawals continuing at warehouses in Rotterdam. Thousands of tonnes of Copper have been withdrawn over the past few trading sessions, with Glencore the key trader behind these requests.

Silver prices (XAG/USD) rose on Thursday, according to FXStreet data.