{"id":126752,"date":"2026-05-06T10:04:55","date_gmt":"2026-05-06T06:04:55","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126752"},"modified":"2026-05-06T10:04:59","modified_gmt":"2026-05-06T06:04:59","slug":"gold-roars-back-trumps-deal-close-bombshell-sinks-dollar-and-lifts-bullion-as-oil-cools","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-roars-back-trumps-deal-close-bombshell-sinks-dollar-and-lifts-bullion-as-oil-cools\/05\/06\/market-updates\/","title":{"rendered":"Gold Roars Back: Trump&#8217;s &#8220;Deal Close&#8221; Bombshell Sinks Dollar and Lifts Bullion as Oil Cools"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gold rallies:<\/strong> Spot gold jumped 1.8% to $4,637.14\/oz, while U.S. gold futures for June climbed 1.7% to $4,647.31.<\/li>\n\n\n\n<li><strong>Building momentum:<\/strong> The yellow metal had already gained nearly 1% in the previous session.<\/li>\n\n\n\n<li><strong>Trump&#8217;s diplomatic pivot:<\/strong> The president announced a pause to &#8220;Project Freedom&#8221; and said a deal with Iran is close \u2014 a major shift toward diplomacy.<\/li>\n\n\n\n<li><strong>Dollar weakens:<\/strong> The DXY traded 0.2% lower on optimism over a potential U.S.-Iran agreement, making gold cheaper for foreign buyers.<\/li>\n\n\n\n<li><strong>Oil retreats:<\/strong> Crude prices extended losses, easing inflation expectations and providing relief to gold markets.<\/li>\n\n\n\n<li><strong>Inflation pressure cools:<\/strong> The pullback in oil tempers fears of prolonged supply disruptions and &#8220;higher for longer&#8221; rates that have weighed on bullion.<\/li>\n\n\n\n<li><strong>Silver surges:<\/strong> Silver prices jumped 3% to $75.08 per ounce.<\/li>\n\n\n\n<li><strong>Platinum advances:<\/strong> Platinum gained 1.7% to $1,990.72 per ounce.<\/li>\n<\/ul>\n\n\n\n<p>Gold prices rose during Asian trading on Wednesday, buoyed by a weaker dollar and softer oil prices, as signs of de-escalation in the Middle East reduced immediate inflation concerns.<\/p>\n\n\n\n<p>Spot gold advanced 1.8% to $4,637.14 an ounce by 22:47 ET (02:47 GMT). U.S. Gold Futures for June climbed 1.7% to $4,647.31.<\/p>\n\n\n\n<p>The yellow metal had already gained nearly 1% in the previous session.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Trump Pivots Toward Diplomacy<\/h2>\n\n\n\n<p>U.S. President Donald Trump said on Tuesday that Washington would pause an operation aimed at restoring commercial shipping through the Strait of Hormuz, adding that a deal with Iran was close.<\/p>\n\n\n\n<p>The move marked a notable pivot toward diplomacy after the heightened tensions seen earlier this week, when Trump&#8217;s &#8220;Project Freedom&#8221; initiative to secure maritime routes through the strait triggered a military response from Iran \u2014 sending oil prices sharply higher.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bullion Finds Relief from Multiple Fronts<\/h2>\n\n\n\n<p>Gold \u2014 traditionally a safe-haven asset \u2014 has come under pressure throughout the war as a spike in energy prices fanned inflation risks and reinforced expectations that interest rates could remain higher for longer. Both factors tend to weigh on non-yielding bullion.<\/p>\n\n\n\n<p>Oil prices extended losses in Asian trading following Trump&#8217;s comments, easing some of the concerns about prolonged supply disruptions.<\/p>\n\n\n\n<p>The pullback in crude helped temper inflation expectations, providing some relief to gold markets even as geopolitical risk premiums eased.<\/p>\n\n\n\n<p>Meanwhile, the U.S. dollar weakened against major peers amid growing optimism over a potential U.S.-Iran agreement, making gold cheaper for holders of other currencies.<\/p>\n\n\n\n<p>The DXY traded 0.2% lower in early Asian hours.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Other Metals Join the Rally<\/h2>\n\n\n\n<p>Among other precious metals, silver prices jumped 3% to $75.08 per ounce, while platinum advanced 1.7% to $1,990.72 per ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold rallies: Spot gold jumped 1.8% to $4,637.14\/oz, while U.S. gold futures for June climbed 1.7% to $4,647.31. Building momentum: The yellow metal had already gained nearly 1% in the previous session. Trump&#8217;s diplomatic pivot: The president announced a pause to &#8220;Project Freedom&#8221; and said a deal with Iran is close \u2014 a &hellip;<\/p>\n","protected":false},"author":9,"featured_media":116449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-126752","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126752"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126752\/revisions"}],"predecessor-version":[{"id":126753,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126752\/revisions\/126753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/116449"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}