Gold Retreats After Trump Pushes Iran Deadline to April 6

Key Takeaways Gold reached $4,475 per ounce during Friday trading before retreating to the $4,408–$4,417 range President Trump pushed back his Iran energy facility strike deadline to April 6, citing productive discussions Iranian officials publicly rejected claims that negotiations with Washington are underway The precious metal has declined over 15% since the Iran-Israel conflict intensified nearly a month ago Turkey’s central bank offloaded and exchanged approximately 60 tons of gold valued at more than $8 billion within a two-week period Precious metals experienced significant volatility during Friday’s Asian session, with gold surging approximately 2% before surrendering a portion of those advances as the day progressed. By mid-morning in London, spot gold was trading higher by roughly 0.9% at $4,417 per ounce. Futures contracts for the yellow metal similarly advanced, posting gains of about 0.8% to reach $4,442. Micro Gold Futures,Apr-2026 (MGC=F) Notwithstanding Friday’s positive performance, gold remained positioned for a weekly decline of approximately 1.7%. The price movements followed President Donald Trump’s decision to postpone his ultimatum to Iran regarding the reopening of the Strait of Hormuz. Trump had initially warned of strikes against Iranian energy infrastructure if the critical waterway remained blocked. After moving the deadline to Friday, he announced Thursday that it would be extended once more to April 6. Trump sets a new Iran deadline: April 6 pic.twitter.com/SOVLyGGZ5j — Annmarie Hordern (@annmarie) March 26, 2026 In a Truth Social post, Trump indicated the extension was granted at Iran’s behest. He characterized the discussions between both nations as “ongoing” and progressing “very well.” He dismissed contrary media coverage as “erroneous.” Iranian authorities publicly refuted any suggestion that negotiations with the United States are currently taking place. Understanding Gold’s Weakness During the Conflict Gold has experienced a de...