Gold Drops to Lowest Level in Two Months Following US-Iran Strikes Amid Rising Inflation Concerns
Gold prices fell to their lowest level in two months on Thursday, as escalating tensions and renewed strikes between the US and Iran pushed oil prices up and boosted the dollar.
According to CNBC, spot gold prices hit their lowest point since March 26.
Spot gold was down 1.5%, trading at $4,389.99 per ounce, while US gold futures for June dropped 1.5% to $4,387.70, Reuters reported.
Silver also faced declines on Thursday, with spot prices falling 2.4% to $72.85 per ounce. Silver futures similarly decreased by 2.4%, remaining just above the $73 level.
Both gold and silver experienced historic rallies last year, surging 66% and 135% respectively throughout 2025. However, this year has brought increased volatility to the precious metals market.
Since the outbreak of the US-Iran conflict in late February, gold has been pressured downward. The near shutdown of the Strait of Hormuz has caused Brent crude prices to spike, fueling inflation concerns and raising the possibility of interest rate hikes.
