Trump hints at possible withdrawal from Iran war, gold rises for the fourth consecutive day

LootboxPhobia · 2026-04-01T04:12:05+00:00

On Wednesday during Asian trading hours, gold prices rose for the fourth consecutive day, boosted by a weakening dollar and optimistic expectations of improved US-Iran relations. Spot gold increased to $4,694.16 per ounce. Although Trump stated that the conflict could end within the next few weeks, the details of any agreement remain uncertain, and investors remain cautious. The softer dollar makes gold more attractive, but global trade risks limit the price gains.

LootboxPhobia

2026-04-01 04:12:05

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Investing.com- During Wednesday’s Asian trading session, gold prices rose for the fourth consecutive trading day, supported by a weaker U.S. dollar as investors weigh signals that the United States and Iran may be moving toward ending the conflict in the Middle East.

As of 21:35 U.S. Eastern Time (01:35 Beijing Time), spot gold was up 0.6%, to $4,694.16 per ounce. U.S. gold futures rose 1%, to $4,724.55.

Gold surged 3.5% in the prior trading session due to a pullback in the dollar, but fell more than 11% for March overall.

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U.S. President Trump said Washington could exit the Iran conflict in “two to three weeks,” and the remarks provided support for gold prices.

The comment increased expectations that the situation could cool down, but uncertainty remains around the timing and conditions of any deal, keeping investors cautious.

On the Iran side, official media reported that President Masoud Pezeshkian said Tehran is ready to end the war, while also reiterating key demands, including assurances that it will not be attacked in the future.

A softer dollar also supported gold, making the precious metal more attractive to overseas buyers.

The U.S. Dollar Index fell 0.1% in the Asian session after dropping 0.6% in the previous trading day.

However, there have been reports that Trump is willing to end U.S. military operations even if the Strait of Hormuz remains broadly shut, highlighting ongoing risks facing global trade and limiting the rise in gold prices.

Gold’s gains this week came after recent volatility; after the price plunged in March due to a stronger dollar and shifting expectations for U.S. interest rates, it has been rebounding.

In other precious metals, silver fell 1.1%, to $74.35 per ounce, while platinum rose 1%, to $1,972.06.

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