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Gold and Silver Plunge Then Recover After Trump's Iran Talks Statement
Gold and silver prices plunged temporarily before recovering following former U.S. President Donald Trump's statement on 'Iran talks.' Contrary to expectations that Middle East conflict would boost precious metals, oil and rate fears played a significant role.
Volatility in Precious Metal Prices
Immediately after Donald Trump's statement on 'Iran talks,' the prices of gold and silver fell sharply before recovering. The market had initially anticipated that escalating Middle East conflict would drive up the prices of safe-haven precious metals, but other factors ultimately played a more significant role.
Impact of Oil and Interest Rate Concerns
The primary reasons cited for the decline in precious metal prices include concerns over oil and anxiety about rising interest rates. Notably, silver experienced significant volatility, crashing by as much as 40%, and gold was also affected. This demonstrates that the precious metals market is sensitive not only to geopolitical risks but also to broader macroeconomic indicators.
*Source: Euronews (2026-03-23)*
