Gold Falls As Trump Gives No Clarity On Ending Iran War

2 min readUpdated: Apr 2, 2026 08:12 AM IST

Gold prices reversed course to slip more than 1% on Thursday, snapping a four-day winning streak, after US.President Donald Trump said the United States would continue the war in Iran over the coming weeks.

Spot gold ⁠fell 1.3% at $4,694.48 per ounce by 0202 GMT, while US gold futures slid 1.9% to $4,723.70. Prices were up over 1% at their highest levels since March 19 before Trump’s remarks. The United States would strike Iran “extremely hard” over the next two to three weeks and push it back into the “Stone Ages,” Trump ⁠told the nation in a televised speech, adding that US strategic objectives in the conflict were close to being fulfilled.

“Gold is ‌pulling back after two superb days, as President Trump was quite bellicose in his tone, referring to aggressive plans over the coming weeks… it suggests the optimism of the last few days was overexuberant and there will be some retracement ahead of the long weekend,” said independent metals trader Tai Wong.

Brent oil prices surged by more than 4%, while ⁠the 10-year US.Treasury yield ⁠and the dollar index advanced, weighing on the greenback-priced metal.

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