In the short run, gold prices may extend their decline to test support around $3,750.
Brent futures were little changed, down 1 cent at $95.41 a barrel at 0242 GMT while West Texas Intermediate (WTI) declined by 20 cents, or 0.25%, to $88.52 a barrel
At the time of writing, gold futures on Comex were trading near $3,990 per ounce, while silver was trading near $51.40 per ounce
Brent futures lost $1.14, or 1.2%, to $91.62 a barrel by 0141 GMT while US West Texas Intermediate (WTI) crude futures fell $1.04, or 1.2%, to $85.49
Gold futures on the daily chart witnessed a rebound from the 138000 zone, but the recovery lacked strength as prices failed to sustain above the crucial 146000 resistance level.
Brent futures climbed 71 cents, or 0.78%, to $92.20 a barrel by 0119 GMT while US West Texas Intermediate (WTI) crude rose 49 cents, or 0.57%, to $86.53
Brent crude falls 1.7% to $90.99 a barrel and WTI drops 1.8% as Trump's remarks ease concerns over prolonged supply disruptions in the Middle East
Gold crossed $4,100 per ounce in the international market. However, expectations that the US Federal Reserve could maintain a tight monetary policy stance capped some of the gains
Brent was down 64 cents, or 0.64%, to $97.67 a barrel by 1134 GMT while West Texas Intermediate (WTI) fell 35 cents, or 0.40%, to $90.51 a barrel
The focus will be on inflation prints from China, the US, Germany, Japan and India. Investors will also closely track speeches by Federal Reserve officials and US employment data
Over these 21 years, gold and silver have been through several market cycles, but a small and consistent annual purchase would still have accumulated meaningful value.
Axis Direct has a more upbeat outlook of gold rising by 18 per cent by next Dhanteras, with target prices of ₹165,000-₹171,00.
Praveen Singh of Mirae Asset Sharekhan said that gold's upside could remain constrained by expectations of further Fed tightening, particularly if US economic data remain firm or oil prices rebound.
In the domestic market, gold futures on the Multi Commodity Exchange (MCX) were trading near ₹1,42,450 per 10 gram, while silver futures were trading near ₹1,84,600 per kg
Gold retains longer-term support from geopolitical tensions, central-bank diversification and concerns about fiscal sustainability.
Brent futures fell 97 cents, or 1.03% at $93.65 a barrel as of 0211 GMT, while US West Texas Intermediate crude futures were down $1.14, or 1.29%, to $86.98
At the time of writing, gold futures on Comex were trading near $3,950 per ounce, while silver was trading near $49.30 per ounce
Brent futures fell 26 cents, or 0.25%, to $103.34 a barrel by 0157 GMT while US West Texas Intermediate crude futures fell 53 cents, or 0.55%, to $95.56
Gold and silver futures declined on MCX and Comex as rising US bond yields and a stronger dollar weighed on prices
The country, the world's biggest gold consumer after China, is grappling with rising living costs in the wake of the Iran war, while a weak monsoon could curtail rural demand for jewellery