Gold prices fluctuate: Traders assess the prospects of de-escalation in US-Iran conflict

MaticHoleFiller · 2026-04-07T02:34:48+00:00

As diplomatic negotiations push for a ceasefire in the month-long conflict, traders are assessing the possibility of a breakthrough in the US-Iran war, causing gold prices to fluctuate accordingly.After the Easter holiday, several markets in Europe and Asia are closed, resulting in light trading. Gold prices are moving within a narrow range, fluctuating slightly up and down.According to reports, after U.S. President Donald Trump extended the deadline to reopen the Strait of Hormuz to Tuesday, U.S. allies are pushing to reach a last-minute agreement with Iran. Media outlet Axios reports that Pakistan, Egypt, and Turkey are actively mediating to secure a ceasefire agreement lasting approximately 45 days.Since the conflict erupted at the end of February, gold prices have fallen over 10%. Rising energy prices have heightened inflation concerns and reduced expectations for rate cuts — which typically benefit non-yielding precious metals. Meanwhile, investors are seeking to compensate for

MaticHoleFiller

2026-04-07 02:34:48

With diplomatic mediation pushing to halt this month-long conflict, traders are assessing the likelihood of a breakthrough in a U.S.-Iran war—gold prices then fluctuate accordingly.

After the Easter holiday, several markets in Europe and Asia are closed, with thin trading; gold oscillates within a narrow range between slight gains and losses.

According to reports, after U.S. President Donald Trump extended the final deadline for Iran to reopen the Strait of Hormuz to Tuesday, U.S. allies are working to secure a last-minute deal with Iran. Media outlet Axios reports that Pakistan, Egypt, and Turkey are actively mediating to reach a ceasefire agreement lasting about 45 days.

Since the conflict broke out at the end of February, gold prices have fallen by more than 10%. Surging energy prices have intensified concerns about inflation and reduced expectations for rate cuts—which typically favor this kind of non-interest-bearing precious metal. At the same time, investors have also sold their holdings to offset other losses, further weakening gold’s safe-haven appeal.

“Investors are taking profits to protect their assets.” Robert Gottlieb, a former precious metals trader at JPMorgan and a market commentator, said.

Key U.S. inflation data scheduled to be released this week will fully reflect the surge in gasoline prices. Economists expect that in March the Consumer Price Index (CPI) for residents will rise by 1%, the largest month-over-month increase since 2022. The war has pushed the retail price of U.S. gasoline up by more than $1 per gallon.

As of 10:52 a.m. New York time, spot gold is down 0.1% to $4,683.70 per ounce; silver is down 0.2%; platinum and palladium both fall. Bloomberg’s U.S. Dollar Spot Index is down 0.2%.

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