Crude oil prices surged due to uncertainty surrounding the Strait of Hormuz reopening, while gold stabilized after achieving its strongest weekly performance since January.
Separately, gold prices have remained stable after witnessing their biggest weekly gain since January.
The stability comes as traders analyze a surprise contraction in the US jobs market, easing fears of an interest rate hike.
The metal was trading close to $4,345 per ounce in early trading on Monday, having gained over 7% last week.
Silver also rose by 0.6% to $63.92 per ounce while platinum and palladium remained relatively unchanged during this period of volatility in commodity markets.
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Oil prices climbed Monday as Strait of Hormuz reopening remained uncertain. Iran stated a deal with Oman was nearing completion…
