Gold prices recorded their largest single-day gain in more than two months on Thursday, rising as much as 3.6% before closing 3.4% higher at $4,212.26 an ounce, according to market data. The surge followed President Donald Trump’s statement that he canceled planned military strikes against Iran, citing discussions with Iranian leadership about a negotiated end to the war. Trump told reporters in the Oval Office that a signing could occur as soon as this weekend in Europe, with Vice President JD Vance attending if the deal materializes, according to White House pool reports.
Iran’s semi-official Fars news agency reported that officials had not yet approved any agreement text, citing an unnamed source. The conflicting signals have kept markets on edge, officials said, as the war has disrupted energy flows through the Strait of Hormuz. The development marks a potential shift from earlier threats of intensified attacks, according to reports from the White House press pool.
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