23.03.202611:32:18UTC+00Gold Trims Losses After Trump’s Iran Strike Delay

Gold pared earlier losses on Monday, last trading about 1% lower at $4,420 per ounce after President Trump postponed potential strikes on Iran for five days, citing “productive conversations” with Tehran. The metal nonetheless remained under sustained pressure, extending its losing streak to a ninth consecutive session and touching its lowest level since early January, as the conflict in the Middle East heightened inflation concerns. Last week, gold tumbled more than 10% amid a sharp rise in oil prices and increasingly hawkish signals from central banks, which together triggered a broad sell-off. With inflation risks mounting, markets are now pricing in a Federal Reserve rate hike by year-end, while the ECB, BoE, and BoJ have all kept policy rates unchanged but indicated they stand ready to tighten further if necessary. Sentiment has been further undermined by expectations that major economies could sell portions of their gold reserves to offset the war’s economic fallout.