AGE Daily Gold Update

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

4/2/2026: Markets and Metals fall following Trump’s address

Source: Dana Samuelson, American Gold Exchange

Austin — Optimism over the potential quick resolution to the war in Iran turn to pessimism following President Trump's address to the nation last night. President Trump said that while the war was “nearing completion” U.S. forces would hit Iran “extremely hard over the next two to three weeks,” signaling a potential escalation of the ongoing conflict.

Following Trump’s address, the UAE intercepted nineteen ballistic missiles and twenty-six drones fired at them by Iran. Kuwait and Quatar were also fired upon by Iran. Assaults on the Iranian infrastructure by the US and Israel escalated.

Oil prices, which tumbled yesterday on hopes of a cease fire announcement, rebounded sharply higher overnight, driving global equities markets lower with gold and silver selling off in sympathy to equity markets.

Gold and silver gave up yesterday’s gains, dropping 2.6% and 4.0% respectively, while platinum edged slightly lower and palladium gained 1.5%.

The dollar gained thirty-six basis points to just over 100.00 on the US dollar index, helping to pressure gold. Yields on the 10-year US T-bill were sideways at 4.30%.

At the New York spot close: gold fell $131.70 to $4,651.50; silver tumbled $3.13 to $72.73 platinum eased $5.50 to $1,963.80; and palladium gained $24.30 to $1,502.70 an ounce.