Gold Trims Losses After Trump’s Iran Strike Delay

2026-03-23 11:32 By Joana Ferreira 1 min. read

Gold trimmed early losses Monday, trading 3% lower at $4,350 per ounce, after President Trump postponed strikes on Iran for five days, claiming "productive conversations" with Tehran.

However, Iran’s state-run Fars News Agency dismissed the claim, reporting no direct or indirect talks with the US and suggesting Trump’s retreat followed Iran’s threat to target all power plants in the region.

Despite the temporary reprieve, gold extended its decline for a ninth straight session, hitting its lowest level since early January as the Middle East conflict fueled inflation fears.

Last week, gold plunged over 10% amid soaring oil prices and central bank hawkishness, with markets now pricing in a Fed rate hike by year-end.

Compounding the pressure, major economies may sell gold reserves to mitigate the war’s economic impact.



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