AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

3/9/2026: Gold eases as dollar rises

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold fell 1.1% to close under $5,092 as the widening US war on Iran fueled global flights to liquidity, lifting the dollar and pressuring alternative stores of value. Silver added 0.3% to finish at $84.03 an ounce.

Over the weekend, Iran chose hardliner Mojtaba Khamenei, son of the assassinated Ayatollah Khamenei, as its new supreme leader. The move dashed hopes that a softer reformist government would emerge from the ashes and shorten the war.

Oils prices surged another 4.5% on the prospect that a protracted Middle East war could push the world into an energy crisis, fueling higher inflation and potential recession. Saudi oil production was cut, adding to higher prices, because shipments through the Strait of Hormuz are all but blocked.

President Trump said oil prices over $100 are "a small price to pay for peace and safety."

The dollar rose 0.2% against major rivals, pressuring gold by making it pricier overseas.

Platinum and palladium added 0.9% and 1.2%, respectively.

At the New York spot close: Gold fell $54.60 to $5,091.50; silver rose 22 cents to $84.02; platinum picked up $19.20 to $2,164.05; and palladium added $20.30, to $1,662.25 an ounce.