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Gold prices rose above $4,100 an ounce in electronic trading on Monday after US President Donald Trump announced renewed peace talks with Iran, causing oil prices to drop over 7% and reducing worries about inflation and interest rates. Trump mentioned that key Middle Eastern allies, notably Saudi Arabia, advised him to halt planned strikes and seek diplomacy while urging a swift reopening of the Strait of Hormuz. The dollar index fell below 99.4 for the fifth consecutive session due to Japan's coordinated yen-buying operations. Investors await a busy week of US labor market data, ending with Friday’s jobs report, following the Federal Reserve's decision to keep rates unchanged despite three dissenting officials. On the MCX, October gold futures increased by 0.2% to ?1,43,606 per 10 grams.
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