AGE Daily Gold Update

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

4/6/2026: Gold gains on Trump war threats

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained 0.1% to close near $4,657 as President Trump threatened to escalate the US war on Iran, driving oil prices higher and boosting alternative stores of value. Silver edged down 0.1% to finish at 72.66 an ounce.

In an expletive-laced Easter post on social media, Trump threatened to destroy all of Iran's infrastructure, bridges, and power plants with bombardments, making Iranians "live in hell" if Tehran does not open the Strait of Hormuz by tomorrow.

Global benchmark Brent crude jumped 1.4% to more than $113 per barrel on the threats, which, if carried out, would curtail supply further and lead to severe global energy shock. Gold often trades in sympathy with oil as a hedge against energy-related inflation.

The ISM reported the US services sector slowed more than expected in March and the prices paid by companies for inputs surged to by the most in 13 years, primarily because of the war on Iran. Services employment dropped to the lowest level since late 2023. Around 70% of Americans are employed in services industries.

Separately, the New York Fed reported that pressure on supply chains rose in March to the highest level since early 2023, when Covid disruptions raised input prices and global inflation.

Limiting gold's gains, benchmark 10-year Treasury yields rose above 4.3% as investors anticipate higher inflation because of the Iran war. Higher yields weigh on gold by increasing the opportunity cost for holding it instead of bonds for safety.

Platinum added 0.7% while palladium dipped less than 0.1%.

At the New York spot close: gold gained $5.30 to $4,556.80; silver slipped 7 cents to $72.66; platinum picked up $13.35 to $1,977.15; and palladium lost 35 cents to $1,491.05 an ounce.