Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Gold prices surged to an unprecedented level above $5,500 an ounce on Wednesday evening, extending their strong upward momentum amid escalating geopolitical tensions and growing demand for safe-haven assets. The rally was driven largely by reports that U.S. President Donald Trump is considering a major new military strike on Iran, according to CNN, heightening uncertainty across global financial markets.
Spot gold climbed more than 1% to reach a record high of $5,595.41 per ounce, while April gold futures peaked at $5,625.89 per ounce. The sharp move underscored investors’ preference for physical assets such as gold during periods of political instability, especially as concerns mounted over U.S. foreign policy and potential conflict in the Middle East. A weaker U.S. dollar further supported bullion prices, making gold more attractive to international buyers.
According to the CNN report, President Trump is weighing airstrikes targeting Iranian leadership and security officials accused of violently suppressing nationwide protests, as well as additional attacks on Iran’s nuclear facilities. This follows stalled negotiations over Iran’s nuclear program and missile development. Trump had earlier warned that any future U.S. military action would be significantly more severe than the mid-2025 strikes on Iran’s key nuclear sites.
The situation has been exacerbated by the recent deployment of U.S. naval forces to the Middle East and Iran’s pledge to retaliate against any further attacks. These developments have amplified geopolitical risk, a major catalyst behind gold’s historic rally. Broader tensions involving the U.S., including a recent incursion in Venezuela and earlier rhetoric regarding Greenland, have also bolstered demand for safe-haven assets.
Meanwhile, other precious metals struggled to keep pace. Silver and platinum prices cooled after reaching record highs earlier in the week, lagging behind gold’s continued ascent. Gold prices appeared largely unaffected by the U.S. Federal Reserve’s decision to leave interest rates unchanged, as geopolitical concerns outweighed monetary policy factors.
With uncertainty dominating global markets, gold’s role as a store of value remains firmly in focus for investors worldwide.
