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The precious metal slipped below its 21-day moving average, currently at $2,348, yet remained poised for its fourth consecutive month of growth, boasting a 2.5 per cent increase in May.
The Brent crude contract rose by 76 cents to $82.88 per barrel by 1411 GMT, while the more active August contract increased by 80 cents to $82.64. U.S. West Texas Intermediate (WTI) crude futures climbed by 78 cents to $78.50.
By 1745 GMT, spot gold had increased by 1.5% to $2,412.83 per ounce, approaching its all-time high of $2,431.29 set on April 12. Meanwhile, U.S. gold futures closed 1.3% higher at $2,417.40 per ounce.
Brent crude futures rose by 43 cents, or 0.5 per cent, to $83.39 per barrel at 1300 GMT, while U.S. West Texas Intermediate crude futures climbed to $78.62 per barrel, up by 51 cents, or 0.7 per cent.
(This story has not been edited by THE WEEK and is auto-generated from a PTI