Spot gold rose 0.7% to $3,900.90 an ounce by 04:40 GMT on Monday, a bounce after Friday's drop to the lowest level since October 2025. CNBC said December US gold futures gained 0.3% to $3,909.70. Bullion fell 3.5% on Friday and broke under $4,000 as a selloff in technology shares forced sales of gold and triggered margin calls. CoinDesk had a nearby reading, with gold up about 1% to roughly $3,910. Sunday's level near $3,876 is in yesterday's commodities note.
Oil drops more than 3% as talks in Doha run to a third day
CNBC said oil prices fell more than 3% after Reuters reported that Iranian negotiators were in Doha on Sunday for a third straight day of talks with Qatari mediators, aimed at a deal to end the US-Israeli war on Iran. CoinDesk put Brent down 3% to about $110 a barrel. A separate early reading from Moneycontrol had Brent futures at $111.21, down $2 or 1.8%, and WTI at $101.88, down $2.2 or 2.08%. Kyle Rodda, senior market analyst at Capital.com, told CNBC the gold bounce followed Friday's selloff, with cheaper oil taking some pressure off precious metals. High energy prices tend to keep the Federal Reserve on a higher-for-longer path, which raises the cost of holding gold that pays no interest.
Silver nears $50 while a December hike stays priced near 73%
Spot silver climbed 1.8% to $49.97. Platinum gained 0.1% to $1,432.63, and palladium steadied at $976.31, CNBC said. Three Fed officials on Friday argued for more rate increases after last week's decision to leave short-term borrowing costs unchanged. CME's FedWatch tool, cited by CNBC, priced about a 73% chance of a hike in December. Ole Hansen, head of commodity strategy at Saxo Bank, said gold's near-term problem is technical selling and thin liquidity, which are crowding out the longer case for holding the metal. The rate week is in the economy briefing, and bitcoin's bounce is on the markets desk.