Gold slides to $4,606 after Trump’s Iran address
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- Trump said Washington would carry out aggressive strikes on Iran over 2‑3 weeks and noted the conflict was nearing completion of its main strategic objectives.
- Gold prices fell after Trump’s address, with spot gold trading at $4,606 per ounce early Thursday, down 3.72% from the previous session.
- U.S. Treasury yield rose, and the dollar index also rose, adding pressure on dollar‑denominated gold.
- Gold support range of $4,400 per ounce and 66,900 baht domestically was identified after the pullback.
Why it matters: Gold investors see a 3.7% price drop, while dollar‑linked assets gain from rising Treasury yields and a stronger dollar, reducing the likelihood of near‑term Fed rate cuts and tightening market liquidity. The pullback also pushes Asian bullion below its two‑week high, widening the $4,400 support zone and pressuring markets that rely on gold as a hedge.
