AGE Daily Gold Update

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

3/24/2026: Gold closes under $4,400

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold slipped 0.5% to close under $4,400 for the first time since early January as Treasury yields and the dollar rose on renewed concerns that a protracted war in the Middle East will increase inflation. It was bullion's ninth loss in 10 sessions. Silver also slid 0.5% to finish at $69.27 an ounce.

The US government announced today that it will send 3,000 army troops from the elite 82nd Airborne division to the Middle East to provide military options for opening the Strait of Hormuz. The closure of the Strait has blocked 20% of the global oil supply, causing prices to spike 30% higher.

The escalation involving US troops on the ground belies President Trump's announcement yesterday that the US and Iran are engages in "good and very productive talks" that will lead to a "complete and total resolution of hostilities," something Iran has completely denied.

The month-long war on Iran is already damaging the US economy, according to data released today from S&P Global. Business activity has slowed to an 11-month low as the war has raised prices for energy and other inputs.

Benchmark 10-year Treasury yields rose to nearly 4.4% on the Middle East escalation and expectation that energy prices will remain higher for longer. Rising yields weigh on gold by increasing the opportunity cost for holding it instead of bonds for safety.

Tracking higher with yields, the dollar added 0.4% against major rivals, pressuring gold and other commodities priced in it for global trade by making them more expensive in other currencies.

Platinum rose 1.7% while palladium fell 1.7%.

At the New York spot close: gold slipped $22.75 to $4,399.30; silver slid 0.5% 35 cents to $69.27; platinum picked up $32.60 to $1,904.55; and palladium lost $24.30 to $1,411.25 an ounce.