Trump says Iran negotiations making progress, gold prices rise but still expected to record weekly decline

LootboxPhobia · 2026-03-27T04:39:53+00:00

On Friday during Asian hours, gold prices rose due to a slight weakening of the US dollar and progress in negotiations between Trump and Iran, with spot gold up 1.2% to $4,429.32. Despite a nearly 3% plunge in gold on the previous trading day, easing geopolitical tensions provided support, and silver and platinum prices also increased.

LootboxPhobia

2026-03-27 04:39:53

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Investing.com - On Friday during the Asian trading session, gold prices rose, supported by a slight weakening of the dollar and easing geopolitical tensions after Donald Trump indicated progress in negotiations with Iran.

As of 22:43 Eastern Time (02:43 Beijing Time), spot gold was up 1.2% at $4,429.32 per ounce, while U.S. gold futures rose 1.1% to $4,457.6 per ounce.

Gold had dropped nearly 3% in the previous trading session and is expected to decline 1.3% this week.

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President Trump stated on Thursday that, at Tehran’s request, he would pause attacks on Iran’s energy infrastructure for 10 days and added that negotiations were “going very smoothly.”

The temporary halt in hostilities reduced immediate safe-haven demand but also put pressure on the dollar, thus providing support for gold, which typically moves inversely to the dollar.

The dollar index fell 0.1% after rising for three consecutive days.

In recent weeks, the gold market has experienced significant volatility as ongoing Middle Eastern conflicts have disrupted traditional safe-haven dynamics. Gold prices surged to record highs earlier this year but have significantly retreated over the past month.

Earlier this month, supply disruptions triggered by the Iran conflict caused oil prices to spike sharply, raising concerns over global inflation.

Rising energy costs may keep inflation elevated and strengthen market expectations that central banks will maintain high interest rates for an extended period.

Although the easing of tensions between Washington and Tehran has limited gains, the ongoing uncertainty regarding the direction of the conflict and its broader economic impact continues to provide potential support for gold.

In other precious metals, silver prices rose 1.5% to $68.98 per ounce, while platinum climbed 2% to $1,871.60 per ounce.

This article was translated with the assistance of artificial intelligence. For more information, please see our terms of use.

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