Gold Regains Some Ground as Trump Postpones Strikes on Iran Energy Installations
The start of this week saw the price of gold decline before rebounding sharply as renewed optimism about easing tensions in the Iran conflict supported investor sentiment. Spot gold initially dropped by over 5% to around $4,262 before recovering to trade near $4,431. The shift in performance came after U.S. President Trump announced that America would delay planned strikes on energy facilities in Iran following what he described as constructive discussions between the two states. Gold futures ended the day at $4,574.40, representing a 0.7% dip. Last week, gold recorded a decline of nearly 10%, marking its weakest performance since late 2011. Since hitting a peak of $5,594.92 an ounce at the start of this year, spot gold has declined by roughly…