Spot Gold Surges $20 on Short Covering, International Oil Price Declines, Middle East Tensions Ease

BlockBeats News, July 20th, according to Bitget market data, spot gold saw a $20 short-term rally, currently trading at $4039.58 per ounce; both US Crude Oil and Brent Crude Oil experienced a short-term decline of over $1, with WTI Crude Oil falling below $81 per barrel, representing a 1.69% intraday decrease. Brent Crude Oil dropped by 1.00% intraday, now priced at $85.33 per barrel.

On the news front, a senior Iranian official stated that the mediator has proposed a 10-day ceasefire to explore pathways for restoring the interim agreement between Iran and the United States.