Gold Rebounds from 2026 Low After U.S. Delays Military Strikes on Iran
The price of gold recovered from a dramatic, multi-session decline on Monday, March 23, 2026, after U.S. President Donald Trump announced a five-day pause on planned military strikes against Iranian energy infrastructure. Spot gold had plunged as much as 8% in early London trading to nearly $4,100 an ounce, its lowest level of the year, before paring losses significantly. By late morning in New York, spot gold was trading down approximately 0.6% on the day at about $4,480 per ounce, according to market data [1]. President Trump stated the delay was due to what he called “productive” conversations with Iranian officials, a claim subsequently contested by Iran’s Foreign Ministry and parliament speaker [2]. The announcement eased immediate market fears of a prolonged war in the Middle East and its inflationary consequences, triggering a sharp reversal in oil prices and a partial recovery in precious metals. The move interrupted gold’s worst weekly performance since the 1980s, which had seen eight consecutive sessions of decline amid a broad market rout.
Gold Recovers After U.S. Announces Five-Day Pause on Military Action
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