Oil prices slide and gold recovers amid hopes for diplomatic breakthrough with Iran

Oil prices fell by approximately 4% on Monday, driven by growing optimism regarding talks to resolve the U.S.-Zionist conflict with Iran. Brent crude dropped to $109.23 per barrel, while U.S. crude fell to $100.14 following diplomatic discussions held in Doha between Iranian and Qatari officials. In contrast, gold recovered, rising 0.7% to $3,900.14 per ounce, supported by lower energy costs and investor anticipation surrounding U.S. elections. Other precious metals, including silver, also saw gains after suffering significant declines in the previous session.