Gold rises, oil choppy after Iran attacks Israel

SINGAPORE - Gold prices rose on Monday, attracting some safe haven bids, while oil prices were choppy after Iran 's retaliatory attack on Israel over the weekend stoked fears of a wider regional conflict and kept traders on edge for what comes next.

Brent crude futures eased 0.25% to $90.21 per barrel, while U.S. West Texas Intermediate crude futures fell 0.35% to $85.36 a barrel. "What may be causing a slight move up in the gold price... is the idea that we could see another counter response from Israel, and if that was to happen... that could cause risk to move down."Elsewhere, U.S. 10-year Treasury futures edged slightly lower with an implied yield of 4.53%, while the dollar held near a 34-year high against the yen at 153.27.A continued run of resilient U.S.

"We have updated our forecasts for the U.S. FOMC, pushing out the timing of the start of the interest rate cutting cycle to September 2024, from July previously," said Kristina Clifton, a senior economist at Commonwealth Bank of Australia. In stock markets, S&P 500 futures and Nasdaq futures each rose 0.3% in early Asia trade, reversing some of the heavy losses in U.S. equities on Friday.

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