Trump Delays Iran Deadline Boosting Gold and Silver Prices

Gold prices rose above $4,500 per ounce on Friday, rebounding after a sharp decline in the previous session. The increase came as President Donald Trump postponed his deadline for Iran to secure a deal to end the war, pledging not to target Iranian energy facilities until April 6. This move provided temporary relief to markets unsettled by nearly a month of hostilities.

Iran Tensions Influence Precious Metals

Trump noted that Iran allowed 10 oil tankers to pass through the Strait of Hormuz this week as a “present” to the US. Meanwhile, Iran rejected the US’ 15-point plan to end the war and submitted its own conditions, including recognition of Tehran’s authority over Hormuz.

Silver Rebounds Amid Market Relief

Silver also strengthened to around $70 per ounce, reversing losses from the previous session. Silver has crashed 50% from its $121 all time high.Both metals had faced heavy selling pressure due to Middle East conflict and rising energy prices, which fueled inflation concerns and expectations of potential central bank interest rate hikes.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.