Gold prices moved higher today, with spot gold up 0.9% to 4,089.03 dollars per ounce and COMEX gold futures for August delivery up 0.5% to 4,090.80 dollars per ounce. The ceasefire between the United States and Iran sent oil prices tumbling sharply, with Brent crude falling below 90 dollars per barrel and WTI crude dropping below 84 dollars, easing inflation concerns and the risk of the Federal Reserve raising interest rates. Meanwhile, a weaker dollar and lower US Treasury yields provided additional support. Independent analyst Ross Norman noted that gold started the week strongly on these factors. Investors are now watching the Fed's monetary policy meeting this week, with the CME Group FedWatch Tool indicating a 66.3% probability that the Fed will hold rates at 3.50 to 3.75 percent at the July 28-29 meeting, and a 79.4% chance of at least a quarter-point hike to 3.75 to 4.00 percent at the September meeting.