Gold Rises Above $4,600 as Iran Risk Lifts Markets — Iran Us News
iran us news: Gold bounced back on Thursday, rising as much as 2.2% to trade above $4,600 after a three-day decline. The move came as the US dollar fell against a basket of other currencies and traders weighed the prospect of a fresh US military engagement in Iran.
Gold has fallen about 13% since the war began in late February, leaving Thursday’s rebound as a sharp but still partial recovery. Crude futures also fell in a volatile session, after earlier rising on an Axios report that the head of US Central Command would brief President Donald Trump about military options.
Dollar Weakness and Iran Risk
The dollar’s drop added support to bullion, with traders also watching speculation that Japan is intervening in the foreign-exchange market to support the yen. Gold has moved in the opposite direction to oil through most of the US-Iran war, tying the metal’s price swings to changes in war risk and energy markets rather than to one driver alone.
Iran remained defiant as traders reassessed the odds of a wider US role. That kept attention on how quickly oil prices might settle, because the metal’s latest rebound came while crude was still volatile and the market was still digesting the military briefing report tied to Trump.
Central Banks Back Gold
Christopher Wong, a strategist at Oversea-Chinese Banking Corp., said, "The shift in environment for gold argues for caution in gold prices, unless oil prices ease lower". He added, "That said, the medium-term structural case remains supported by central bank demand, reserve diversification flows."
The World Gold Council said central banks added gold holdings at the fastest pace in more than a year in the first quarter. For traders, that leaves Thursday’s rally sitting between two forces: short-term pressure from war-related swings and longer-term demand that has continued to absorb supply.
That split is the immediate watchpoint. If oil prices cool, bullion has room to extend the rebound; if war risk and crude volatility stay elevated, gold’s recovery will keep running into the same uncertainty that drove the earlier selloff.
