(Kitco NewsWire) - Spot gold and silver prices were sharply higher in late U.S. trading Monday, supported by a weaker U.S. dollar and a steep decline in crude oil prices as investors responded to renewed hopes for a diplomatic resolution to the U.S.-Iran conflict.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.