XAU/USD falls to $4,059 after President Trump’s comments on Iran tensions strengthen the US Dollar.
Gold prices declined over 1.3% on Wednesday, with XAU/USD trading at $4,059 after hitting a four-day low. The drop followed President Trump’s statement that the agreement to end the war with Iran was “over,” fueling Middle East tensions and boosting demand for the USD.
Prior to the decline, gold had stabilized near recent highs, supported by geopolitical risks and expectations of Federal Reserve rate cuts. The USD’s rally reversed those gains, pressuring commodities priced in the currency.
No immediate market reaction data was provided beyond the price movement.