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Gold prices set for worst month since 2008 as Iran war continues - YAHOO FINANCE
Gold and silver prices jumped on Tuesday afternoon, as risk aversion returned to the market amid concerns about the conflict between Iran and the US and Israel, which is now well into its fifth week.
In a new post on the Trump-owned social media site Truth Social, the US president said countries “like the UK” that are worried about oil shortages should “build up some delayed courage, go to the Strait [of Hormuz], and just TAKE IT".
He said countries are going to “have to start learning how to fight for yourself, the U.S.A. won’t be there to help you anymore, just like you weren’t there for us.”
"Iran has been, essentially, decimated. The hard part is done," the post adds.
Gold (GC=F) futures contracts traded around the $4,616 an ounce mark, up 1.3% in the afternoon. For March, the commodity is set for an 11.9% decline, however.
Gold spot prices rose 1% to $4,571 per ounce shortly after the US opening bell.
Silver (SI=F) prices gained 3.5% to nearly $73 per ounce. For the month, silver is down more than 31%.
Precious metals are headed for their worst months since 2008, pulling back from previous historic highs as investors took the opportunity to shave off some profits.
“Bond yields and the US dollar have both moved higher, and against this backdrop gold has demonstrated its traditional inverse sensitivity to these metrics, falling as a result,” Wayne Nutland, investment manager at Shackleton Advisers explained on CNBC on Tuesday.
“Gold’s declines have perhaps also been exacerbated by the strength of the gold price going into 2026 and possibly a desire amongst investors to liquidate profitable positions.”
