Gold Price Today: $3,906 Monday After Friday’s Drop…
By Tobi Opeyemi Amure
AI summary of the source article
Spot gold traded near $3,906 an ounce on Monday, rising about 0.8 percent following Friday's drop to a one-year low. The recovery was supported by a 3 percent drop in Brent crude, which eased inflation worries.
Why it matters
When Brent drops 3 percent on hopes that the Strait of Hormuz could reopen, the case for a December hike weakens slightly, and gold, which pays no interest, gets some relief.
Key facts
- Spot gold rose 0.79 percent to near $3,906 an ounce on Monday after falling 3.5 percent to a one-year low on Friday.
- Brent crude dropped more than 3 percent to below $110 amid ongoing talks between Iran and Qatar.
- Markets are pricing roughly a 75 percent probability of a Federal Reserve interest rate hike in December.
Source excerpt · FinanceFeeds
Updated 2 November 2026. Spot gold is trading near $3,906 an ounce on Monday, up $30.55 or 0.79 percent from Friday's $3,875.84 close (Trading Economics, 2 November); Reuters had it up 0.6 percent at $3,900.05 early in the Asian session. The bounce follows Friday's drop of about 3.5 percent to a one-year low. Verdict: cheaper oil is giving gold room to recover, but with markets still pricing about…