AGE Daily Gold Update

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

4/16/2026: Gold dips on war optimism

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold dipped 0.3% to close under $4,786 as Treasury yields and the dollar rose on hopes for an end to the US war on Iran. Silver slipped 1.1% to finish at $78.61 an ounce.

President Trump announced today that the likelihood of a deal with Iran to end the war is "looking very good." He added that Iran is apparently agreeing to terms it had long refused, including "free oil" and giving up on the creation of nuclear weapons.

Wall Street crept cautiously higher on the claims, with all three major indexes adding around 0.3%.

Benchmark 10-year Treasury yields also rose as investors shifted toward risk. Higher yields pressure gold by increasing the opportunity cost for holding it instead of bonds.

Tracking higher with yields, the dollar added 0.2% to break an eight-day losing streak. Stronger dollar weighs on gold and other commodities by making them pricier in other currencies.

Platinum and palladium fell 0,5% and 0.6%, respectively.

At the New York spot close: Gold slipped $14.60 to $4,785.40; silver lost 86 cents to $78.61, platinum dropped $10.45 to $2,102.45; and palladium retreated $9.40 to $%1,567.25 an ounce.