Gold Prices Drop as Trump Signals Harsher Stance on Iran
Spot gold fell 2.7% to $4,631.25 per ounce as of 0810 GMT, after earlier climbing to $4,800. US gold futures also declined 3.1% to $4,664.15 per ounce.
The drop followed Trump’s remarks that Washington plans to intensify operations against Iran over the next “two to three weeks,” while reaffirming that the US will prevent Tehran from obtaining nuclear weapons. “We’re going to hit them extremely hard over the next two to three weeks,” he said, signaling a shift from earlier comments suggesting US forces could withdraw from Iran within a similar period even without a formal deal.
Other precious metals also suffered steep losses, with silver falling 4.8% to $71.49 per ounce.
Markets remain highly sensitive to changing rhetoric surrounding the Iran conflict, as investors reassess geopolitical risks and safe-haven demand.
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