Precious Metal Dips as Currency Markets React to Iranian Nuclear Site Strikes
Gold experienced a modest decline Monday, dropping 0.4% to $3,354.03 per ounce, as geopolitical tensions paradoxically strengthened the U.S. dollar rather than boosting traditional safe-haven gold.
The dollar’s 0.3% rise came after U.S. forces struck Iranian nuclear sites with 30,000-pound bunker-buster bombs, prompting Iran to vow self-defense.
President Trump raised questions about regime change in Iran while warning against retaliation. Despite the escalating Middle East conflict, including continued missile exchanges between Iran and Israel, gold showed an “uncharacteristically subdued performance,” according to analysts.
Technical analysis suggests gold may test support at $3,348, with potential further decline to $3,324. Other precious metals showed mixed performance, with silver up slightly at $36.02, platinum steady at $1,264.96, and palladium gaining 0.6% to $1,050.07.
