Gold rises over 1% as oil tumbles on pause in US-Iran fighting

Spot gold rose 1.3 percent to USD 4,103.99 per ounce while U.S. gold futures gained 0.9 percent, supported by a 5 percent tumble in oil prices as the U.S. pressed pause on its bombing campaign against Iran after running out of military targets. The pause raised hopes for a diplomatic resolution, easing inflation concerns stemming from elevated crude prices, while a weaker dollar and lower 10-year U.S. Treasury yields further boosted gold's appeal. Silver jumped 2.7 percent, platinum climbed 2 percent, and palladium rose 2.3 percent in tandem with bullion.