LONDON, Mar 23 – Gold and silver rebounded after Donald Trump announced a delay in planned military strikes targeting Iran’s energy infrastructure, offering temporary relief to global markets.
Spot gold recovered after earlier sharp losses, trading about 2% lower on the day. The metal had plunged as much as 8.8% in early London trading, extending declines triggered by escalating tensions in the Middle East.
The rebound followed Trump’s decision to postpone the strikes for five days after what he described as “productive” discussions with Iranian officials aimed at reaching a broader resolution to the conflict.
As of mid-session in London, spot gold was down 1.6% at $4,417.82 an ounce, while silver rose 0.9% to $68.52 an ounce, reversing earlier losses of more than 10%.
The move underscores the sensitivity of precious metals to geopolitical developments. Gold, often seen as a safe-haven asset, had come under pressure amid volatility in global markets, but the pause in escalation helped stabilize investor sentiment.
Markets remain on edge, with further price movements likely to depend on whether diplomatic efforts translate into a sustained de-escalation in the region.
