01/04/2026
Gold prices rose for the third consecutive day after US President Donald Trump said he expected the US to end its war with Iran within two to three weeks.
Gold prices were near $4,680 an ounce in early trading, after rising 3.5% in the previous session. Trump hinted that the US had largely achieved its military objectives and left the Strait of Hormuz issue to other countries to resolve. Earlier on Tuesday, Iranian state media quoted President Masoud Pezeshkian as saying that Iran was prepared to end the war if its demands were met.
Despite a rebound in recent days, gold’s nearly 12% drop in March was its worst monthly performance since October 2008. The Middle East conflict, which has lasted for five weeks, has disrupted global markets and caused supply disruptions to energy and other commodities, raising concerns about a simultaneous surge in inflation and a slowdown in economic growth.
Traders are also assessing comments from the Federal Reserve for clues about central bank interest rate policy. Following Federal Reserve Chairman Jerome Powell’s statement that long-term inflation expectations remain stable, the bond market’s focus shifted from rising inflation to the impact of war on economic growth.
As of 7:00 AM Singapore time, spot gold rose 0.3% to $4,679.93 per ounce. Silver edged up 0.1% to $75.26 per ounce. Platinum and palladium prices also rose. The Bloomberg Dollar Spot Index, which measures the dollar’s performance, closed flat today after falling 0.6% in the previous session.
[Disclaimer] Forex trading involves risk; invest with caution. This content is for informational purposes and objective analysis only and does not constitute any investment advice, buy/sell recommendation, or profit guarantee. Investors should make independent decisions based on their own financial situation and risk tolerance, and bear their own investment risks.
