Gold, Silver Pare Losses As Trump Delays Iran Energy Strikes

Gold and other precious metals staged a partial recovery on Monday after suffering sharp early losses, as markets reacted to US President Donald Trump&#039;s decision to postpone planned strikes on Iran&#039;s energy infrastructure following what he described as &ldquo;good and productive&rdquo; talks.Spot gold plunged more than 5% in early trade to $4,262.50 an ounce before rebounding to around $4,412 by late morning in London. Despite the recovery, bullion remains under pressure, having fallen nearly 10% last week &mdash; its worst performance since September 2011, and about 25% from its late-January peak of $5,594.92 per ounce.Gold futures mirrored the volatility, dropping almost 10% at one point before trimming losses to trade roughly 4% lower at $4,392.Also Read:&amp;nbsp;Markets To Rebound? GIFT Nifty Soars Nearly 900 Points As Trump Defers Iran Strikes, Holds TalksSilver also extended its decline, with spot prices falling 5.9% to $63.76, marking a year-to-date low and nearly half of its February 28 level when the Iran conflict began. Silver futures were last down 8.3% at $63.98.The sell-off spread across the precious metals complex, with platinum futures tumbling 9.7% to $1,780.20 and palladium slipping 4.7% to $1,377.50.The sharp moves come amid heightened volatility linked to the Iran conflict, which has fueled inflation concerns and resultant expectations of higher interest rates, factors that typically weigh on non-yielding assets like gold. Rising bond yields, particularly in the euro zone, further reduced the appeal of precious metals.&ldquo;The stakes in the Iran war just escalated and what we&#039;re seeing is the ultimate flight to safety. This is exactly how crowded momentum trades come to an end,&rdquo; Nic Puckrin, co-founder of Coin Bureau, told CNBC.Puckrin added that central banks and Gulf states may be drawing down gold reserves accumulated in recent years.&amp;nbsp;&ldquo;The focus has moved from accumulation to capital preservation. This will put a natural cap on gold prices,&rdquo; he added.Also Read:&amp;nbsp;Wall Street Set To Soar As Trump Hints At Iran Breakthrough; Dow Futures Jump 1,000 Points

Gold, Silver Pare Losses As Trump Delays Iran Energy Strikes

Precious metals recover from steep losses as hopes of de-escalation in the Iran conflict temper safe-haven demand

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