Gold rebounds on softer dollar, easing Iran tensions

April 01, 2026 (MLN): Gold prices edged higher on Wednesday, reaching close to a two-week peak, as a softer U.S. dollar and declining Treasury yields provided support to the market.

Currently, spot gold was up 5.66% at $4,759.29 an ounce as of [4:52 pm] PST, according to data reported by Mettis Global.

Market sentiment improved following remarks from Donald Trump that the conflict involving Iran could be nearing resolution, according to Reuters.

The comments suggested the possibility of renewed diplomatic engagement with Tehran or a gradual easing of tensions even without a formal agreement.

The U.S. dollar slipped to its lowest level in about a week, making gold more affordable for investors holding other currencies.

At the same time, benchmark 10-year U.S. Treasury yields declined to near two-week lows, further boosting the appeal of the precious metal.

Despite the midweek recovery, gold had a difficult March, falling more than 11% its steepest monthly decline since October 2008.

The drop was largely driven by surging oil prices, which heightened inflation concerns and increased expectations of tighter monetary policy. Such conditions tend to weigh on non-yielding assets like gold, reducing their attractiveness to investors.

In other metals trading, silver slipped 0.8% to $74.50 per ounce. Platinum rose 0.5% to $1,958.75, while palladium dipped 0.2% to $1,473.75.

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