AGE Daily Gold Update

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

3/17/2026: Gold edges back over $5,000

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold edged up 0.1% to $5,001 as oil climbed on the Iran war and the dollar and Treasury yields both fell ahead of the Fed's decision on interest rates. Silver shed 0.9% to $79.53 an ounce.

Israel said it killed Iran's head of security, Ali Larijiani, in intensifying overnight airstrikes. Meanwhile, Iran renewed its attacks on the United Arab Emirates to prevent the loading of oil for export. And President Trump unsuccessfully petitioned allies for help unblocking the Strait of Hormuz.

Global oil prices climbed another 2% to more than $105 per barrel as the US war on Iran shows no signs of stopping. The new Ayatollah has reportedly rejected any overtures of de-escalation, demanding that the US and Israel be "brought to their knees."

Gold often trades in sympathy with oil as a hedge against energy-related inflation.

Benchmark 10-year Treasury yields slipped back toward 4.2% as investors shifted into the perceived safety of government debt. Falling yields lift gold by decreasing the opportunity cost for holding it instead of bonds.

The dollar retreated for a second session, losing 0.2% against major rivals led by the Swiss franc ahead of decisions on interest rates by several major central banks including the Fed, ECB, and BOJ. All are expected to hold rates unchanged, but traders will be watching for mentions about inflation expectations because of the Iran war.

Platinum rose 1.6% while palladium inched up less than 0.1%.

At the New York spot close: gold gained $7 to $5,001; silver slid 73 cents to $79.53; platinum picked up $33.85 to 2,13335; and palladium added $1, to $1,611.75 an ounce.