March 10, 2026 – Gold prices stabilized as the U.S. Dollar declined following statements made by former President Donald Trump regarding Iran, according to reports. The market reaction highlights the sensitivity of precious metals to geopolitical events and currency fluctuations.
Trump indicated that “the war on Iran is largely over” and that Washington is “way ahead” of its initial timeframe of four to five weeks, as reported by Al Masry Al Youm. He also suggested considering seizing control of the Strait of Hormuz, a critical waterway for global oil and gas transport, handling approximately 20% of the world’s supply.
The comments initially caused significant volatility in oil prices, which dropped sharply, while gold and silver prices rose, and the U.S. Dollar index declined. This dynamic reflects a typical investor response to heightened geopolitical risk, with a flight to safe-haven assets like gold.
However, on January 15, 2026, gold and silver experienced a pullback as traders took profits after several sessions of gains, according to Al Jazeera. This shift coincided with a more moderate tone from Trump regarding Iran, easing some of the market’s concerns.
As of January 15, 2026, spot gold was down 0.52% at $4603.08 per ounce, after reaching a record high of $4642.72 in the previous session. February gold futures fell 0.6% to $4607.90. The price movement underscores the impact of shifting political rhetoric on commodity markets.
Earlier, on February 19, 2026, Trump’s statements had spurred an increase in gold and silver prices globally while simultaneously causing oil and the dollar to fall, as noted by Al Arabiya. Conversely, gold prices later retreated with the dollar strengthening and expectations of tighter U.S. Monetary policy.
In the United Arab Emirates, gold prices saw a decline on Monday, with 24-karat gold reaching 527.17 dirhams, as reported by Ma’lumat Mubasher.
The fluctuations in gold prices demonstrate the complex interplay between geopolitical risks, economic policies, and investor sentiment in the global market.
