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Gold Declines After Trump’s Comments on Iran Ease War Tensions

  • Precious metal reverses gains after climbing above $1,600
  • A Bloomberg Intelligence gauge of big gold producers slips
Bloomberg business news
Gold to Rise Further, LGT Bank's Hofer Says
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Gold prices fell after President Donald Trump said Iran “seems to be standing down,” easing fears of further hostilities that spurred the metal’s earlier rally.

Trump said no Americans were harmed by an Iranian missile attack on U.S. bases in Iraq early Wednesday. Iran’s restraint and Trump’s measured remarks in response suggest a path toward easing tensions with Tehran, which surged after the killing of a top general, Qassem Soleimani.