The key facts

  • Gold fell 2.9% to about $3,870 per ounce — the lowest level since October 2025
  • Trump said the US does not need a deal with Iran and redirected Vice President JD Vance toward domestic priorities
  • Silver lost 3.2% to $50 per ounce; Brent rose 1.9% to about $95 per barrel

Precious metals under pressure

Gold fell by more than 2.9% on Thursday to about $3,870 per ounce — its lowest level since October 2025. Among the reasons cited for the decline are expectations of further tightening of the Federal Reserve's monetary policy, rising oil prices, and geopolitical uncertainty following statements by US President Donald Trump about Iran. Silver also lost value: it dropped 3.2% to $50 per ounce.

Trump's statements and rising energy prices

On Thursday, Trump said that the US does not need a deal with Iran and redirected Vice President JD Vance from negotiations with Tehran to domestic priorities. These comments caused concern in the markets. At the same time, energy prices were rising: Brent futures rose 1.9% to about $95 per barrel, while the European gas index gained 8.3%.