Overview
- Gold, which jumped about 3% on Wednesday, extended gains on Thursday to around $4,730–$4,740 as signs of progress in U.S.–Iran talks cooled energy markets.
- President Trump said he paused a U.S. plan to escort ships through the Strait of Hormuz citing “great progress,” and senior officials said the ceasefire was holding.
- Oil dropped roughly 7% on Wednesday and the dollar slipped about 0.5%, moves that made dollar‑priced gold cheaper for overseas buyers and eased inflation worries.
- Silver led the move with a one‑day surge of more than 6% on Wednesday, adding to a broader rebound across precious metals.
- Investors now watch Friday’s U.S. jobs report and Fed signals, with analysts warning that any setback in talks or fresh attacks on shipping could quickly cap the rally.