Gold price today, Monday, March 16: Gold opens below $5,000 per ounce

Gold (GC=F) April futures opened at $4,996.20 per troy ounce on Monday, down 1.3% from Friday’s closing price of $5,061.70. The gold price declined in early trading. High oil prices remain in focus for gold traders. Brent crude (BZ=F) surged higher than $100 a barrel over the weekend, as oil shipping remains disrupted in the Middle East. The choke point is the Strait of Hormuz, a vital thoroughfare that has been largely closed to non-Iranian traffic since fighting began. Prior to the war, an estimated 2 ...