Gold prices climbed and crude oil retreated on Monday as markets reacted to reports of a pause in fighting in the Middle East.
The shift marks a reversal from the previous session, when escalating conflict had driven oil higher on supply disruption fears and pushed gold off two-week highs.
The divergent moves highlight a rapid rotation in risk sentiment.
With the immediate threat of supply disruption receding, the premium embedded in energy prices has softened.
Simultaneously, the uncertainty surrounding the duration of the ceasefire has supported demand for safe-haven assets, allowing gold to recover ground lost earlier in the week.
This development follows a volatile period for commodities, with oil prices advancing on Thursday and climbing further on Tuesday as hostilities intensified.