<\/p>\n
Gold declined after a much-anticipated address by US President Donald Trump offered little clarity on a resolution to the war in the Middle East. Silver also fell sharply.<\/p>\n
Spot gold tumbled as much as 4.3%, breaking a four-day winning streak, after Trump said the month-long conflict was nearing completion but that the US would hit Iran \u201cextremely hard\u201d over the next two to three weeks. In a primetime speech, the US leader also said the military operation had nearly achieved its military goals, while exhorting allies who rely on Middle Eastern oil supplies to resolve the near-closure of the Strait of Hormuz.<\/p>\n<\/p>\n
Gold declined after a much-anticipated address by US President Donald Trump offered little clarity on a resolution to the war in the Middle East. Silver also fell sharply.<\/p>\n
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Spot gold tumbled as much as 4.3%, breaking a four-day winning streak, after Trump said the month-long conflict was nearing completion but that the US would hit Iran \u201cextremely hard\u201d over the next two to three weeks. In a primetime speech, the US leader also said the military operation had nearly achieved its military goals, while exhorting allies who rely on Middle Eastern oil supplies to resolve the near-closure of the Strait of Hormuz.<\/p>\n
Equities fell, a gauge of the US dollar rose as much as 0.4% and oil surged as concerns lingered over energy flows through Hormuz, the strategic waterway that \u2014 before the war \u2014 was a transit point for a fifth of the world\u2019s oil and liquefied natural gas. The moves extended a scenario that has played out during the conflict, with gold\u2019s haven appeal dulled by the need for investors to liquidate their positions and cover losses elsewhere.<\/p>\n
Trump\u2019s speech \u201cbasically framed the conflict as a military success story, not a ceasefire announcement,\u201d said Christopher Wong, a strategist at Oversea-Chinese Banking Corp. \u201cGold had an impressive run-up to a $4 800 intra-session high,\u201d he said. \u201cFrom here, the momentum may moderate given the possible curtailment of risk appetite on fears of a US ground operation in Iran.\u201d<\/p>\n
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With Trump already having said the US could leave Iran within a two- to three-week timeframe, traders had earlier bet that the Federal Reserve may need to cut interest rates to shore up a possible longer-term economic downturn. The market will be closed for the Good Friday holiday and a desire to minimise risks ahead of the long weekend is likely to dominate trading, said OCBC\u2019s Wong.<\/p>\n
A near-12% decline in March was bullion\u2019s worst monthly performance since October 2008, as inflationary risks stemming from elevated oil prices reduced the prospect of lower borrowing costs, again outweighing gold\u2019s traditional appeal as a haven.<\/p>\n
Spot gold fell 4.1% to $4 562.88 an ounce at 2:12 p.m. Singapore time. Silver slid 7% to $69.86, while platinum and palladium also declined. The Bloomberg Dollar Spot Index rose 0.4%.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Gold #plunges #Trump #mixed #signals #Iran #war #resolution<\/p>\n","protected":false},"excerpt":{"rendered":"
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