Gold Jumps to $4,223 as Trump Cancels Iran Strikes and Silver Rallies 5%
Updated
Updated · Forbes · Jun 12
Gold Jumps to $4,223 as Trump Cancels Iran Strikes and Silver Rallies 5%
3 articles · Updated · Forbes · Jun 12
Summary
$4,223.70 gold and $67 silver rose Friday morning, up nearly 3% and 5% respectively, putting both metals on course to end five straight daily declines.
Trump’s decision to cancel planned strikes on Iran and his claim that a peace deal is near helped lift metals, while falling oil prices added support as gold and silver have traded inversely to crude during the war.
The rebound has not erased broader pressure: gold still faces a roughly 7% weekly loss after hitting a six-month low Thursday, with analysts saying a firm dollar and rate-hike expectations remain the dominant drag.
Next week’s Federal Reserve meeting is now the main watchpoint, as markets weigh whether inflation will keep rates steady for now or push borrowing costs higher later this year.