Overview
- Spot prices briefly sank more than 8% to about $4,098 per ounce before trimming losses to roughly $4,448 after President Donald Trump said talks with Iran were productive and he ordered a pause on strikes against energy sites.
- The metal remains down about 16% since February 28 and more than 20% below its January 29 peak of $5,594.82.
- Analysts link the volatility to conflict-related risks to energy flows and to bets on higher U.S. interest rates, with some investors selling gold to hold dollars for cash safety.
- In Egypt, rapid global moves triggered intraday confusion over quotes, and some shops temporarily halted sales as they waited for prices to settle, according to local traders.
- Separate from the rout, UAE jewelers report stronger interest in small gold bars from younger buyers and more women using bars for savings after last year’s steep gains.