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Gold Surges Over One Percent on Hopes of Iran War Ending
(MENAFN) Spot gold surged over 1% on Wednesday, surpassing $4,700 per ounce, following remarks by US President Donald Trump hinting at an imminent end to the conflict in Iran.
Speaking after signing a presidential decree at the White House, Trump indicated that American forces will withdraw from Iran within “two to three weeks,” signaling a halt to ongoing military operations against the country.
"All I have to do is leave Iran, and we’ll be doing that very soon, we'll be leaving very soon," Trump said, adding that it will occur in "maybe two weeks, maybe three."
As of 0720GMT, gold prices had risen 1.08% to $4,720 per ounce, following a 2% increase on Tuesday.
Last week, gold experienced its largest weekly decline since 1983, dropping over 10%.
Speaking after signing a presidential decree at the White House, Trump indicated that American forces will withdraw from Iran within “two to three weeks,” signaling a halt to ongoing military operations against the country.
"All I have to do is leave Iran, and we’ll be doing that very soon, we'll be leaving very soon," Trump said, adding that it will occur in "maybe two weeks, maybe three."
As of 0720GMT, gold prices had risen 1.08% to $4,720 per ounce, following a 2% increase on Tuesday.
Last week, gold experienced its largest weekly decline since 1983, dropping over 10%.
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