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Gold drops as Trump fails to clarify his position on ending the Iran War
Gold prices reversed their course on Thursday, dropping more than 1%, ending a four-day streak of gains, after U.S. president Donald Trump announced that the United States will continue its war against Iran in the coming weeks. U.S. Gold Futures fell 1.9%, to $4,723.70, and Spot Gold dropped 1.3%, to $4694.48 an ounce, by 0202 GMT. Before Trump's remarks, prices were at their highest level since March 19, up more than 1%. Trump said in a televised address that the United States will strike Iran "extremely" hard over the next 2 to 3 weeks, and force it back to the "Stone Ages". Tai Wong, an independent metals trader, said: "Gold is pullingback after two excellent days. President Trump was quite bellicose, referring aggressive plans for the next few weeks... It suggests that the optimism in the last few days were overexuberant, and there will some retracement before the long weekend." Brent oil prices rose by over 4% while the yield on 10-year U.S. Treasury bonds and the dollar index increased, which weighed down the metal priced in greenbacks. After the onset on the conflict in Iran, which began on February 28, the metal fell 11%, its worst loss monthly since 2008. This has caused oil prices to rise and increased inflation pressures. It also clouds the Fed's monetary policy. Fed rate-cut expectation remains low throughout most of 2026. Markets are largely pricing in no change, until there is a modest 25% probability of a reduction at the December meeting. Gold is attractive during times of geopolitical tension and inflation, but higher interest rates reduce its appeal by increasing the cost of holding this non-yielding investment. Alberto Musalem, the St. Louis Federal Reserve president, said that on Wednesday there was no need for a 'U.S. Central bank is not changing its interest rate stance due to rising inflation risks. Other metals saw spot silver fall 2.9% to $72.95, while platinum fell 1.8% to 1,928.26, and palladium dropped 1.4% to 1,451.85. (Reporting and editing by Sherry Phillips and RashmiAich in Bengaluru, and Pablo Sinha from Bengaluru)
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Investor reactions to Trump's speech about Iran war
In a televised address on Wednesday, Donald Trump said that the U.S. Military had almost completed its goals in the war against Iran and that it would be over soon. Trump said that the U.S. will?continue hitting targets in the Islamic Republic for the next two or three weeks. After?Trump’s speech, stocks fell, the dollar strengthened and oil prices rose. Here are some comments from analysts and investors: RUSSEL CHESSLER, DIRECTOR OF INVESTMENTS & CAPITAL MARSKS, VANECK AUSTRALIAN, SYDNEY "The markets?certainly? are not interpreting this speech as positive. He has failed to instill confidence in the markets if that was his intention. This volatility is caused by the question that all investors ask themselves: "When will this be over?" You will see the markets start to retreat when you believe it is going to last longer. When you believe that it will end soon, the markets go up. You can see the dollar strengthen when you're dealing with volatile markets, but longer term I think it will continue to fall structurally. "We are now in a situation where we are entering a stagflation with lower growth and increased inflation expectations." DANNY KHOO HEAD OF SALES TRADE, SAXO SINGAPORE Markets expected Trump to announce a plan for ending the war in the next two or three weeks. He warned instead that the U.S. will strike Iran "extremely" over the next few weeks and threatened to target Iran’s power infrastructure if a deal was not reached. These remarks increased the risk of escalation and increased the possibility of Iranian retaliation. Trump noted that the equity markets hadn't fallen as much as expected. He said 'it's not been that bad,' which was followed by renewed pressure on equities. MIKE HOULAHAN DIRECTOR ELECTUS FINANCIAL LIMITED, AUCKLAND "I didn't really think that there was much in the speech, other than the fact they are going to continue bombing for two or three weeks. This will push the deadline for resolution out further. The next question was whether the increased pressure on fuel supply chains would be a result of his decision to extend it. He confirmed that it will take two to three more weeks. We know that Australia's supply is becoming scarcer - will this force them to continue working from home? MATT SIMPSON, SENIOR MARKET ANALYST, STONEX, BRISBANE: "Trump's tone was pretty depressing for a guy who has won so many battles in this war. Oil prices will remain high as Trump has no plans to reopen Strait of Hormuz, which he closed. We're waiting for inflation to rise while Trump is gone. JON WITHAAR, SENIOR PORTFOLIO MANAGER, PICTET ASSET MANAGEMENT, SINGAPORE: The market wanted to hear that there was no more certainty or clarity about the timeline in this speech. Boots on the ground are not ruled-out and the threat to strike infrastructure was reiterated. This will put the market 'on the defensive', especially as we approach the long weekend. TONY SYCAMORE MARKET ANALYST IG SYDNEY "It was assumed that we would see a continued de-escalation of the situation, as we have seen in the last couple days. We saw that in general, but I think the market was looking for a bit more. "There was not much new to me. "(The Strait of Hormuz remains) the variable in everyone's playbook. "When you look at the stock market, we see a reaction of buy the rumour and sell the fact, but for crude oil, the opposite." The markets will be in a state of uncertainty for another two or three weeks. KAZUNORI TATEBE is the Chief Strategist at DAIWA Asset Management, Tokyo: Trump did not mention when the war will end or when passage of the Strait of?Hormuz is possible in his speech. Still, there are uncertainties. The domestic equity market will not continue to rise. We need to take another step, such as the possibility of opening the Strait. Positively, the war will not escalate. Reporting by Ankur Baerjee, Gregor Stuart Hunter and Satoshi Sugyama in Tokyo. Scott Murdoch and Jiaxing Zhen in Sydney, Sumeet Chaterjee in Hong Kong; Sumeet chatterjee in Sydney; Sam Holmes in editing.
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Paul George (39), Sixers score a dazzling victory over the Wizards
Paul George scored 39 points, a new career high for him in a Sixers jersey. Philadelphia, without Joel Embiid on the court, also had a flurry of offensive?outbursts in a 153 131 victory over Washington Wizards. George made six threes in 30 minutes and was 15 of 22 on the floor. Tyrese Maxiey scored 28 points, and rookie VJ edgecombe added 23, as the Sixers shot season high 61.6% of the floor including 48.6% (17 out 35). The Sixers (42-34) are now only a half game behind Toronto in the Eastern Conference. Toronto hosted ?Sacramento on Wednesday. George said in an interview with the Sixers after the game, "I think that I was able to get my spots early. Range?up, and shoot confidently, were the keys." "Tonight was an 'excellent indicator. I think I was in touch with my body. I was able play physically and play downhill. It's "what I do best." George scored 14 points in the quarter, and 24 at halftime. Philadelphia led by 73-71 after the halftime break, despite trailing 10 points in the second. However, the game changed dramatically in the third. The Sixers scored 47 points in the third quarter and shot 20 out of 26. They went on to win 120-103. George explained defensive changes in the third. We had to help each other and guard one another, and that helped us get in a good flow. Anthony Gill scored a team high?21 points for the Wizards off the bench, including three triples. Will Riley scored 18 points and Tristan Vukcevic had 17 for Washington, which shot 52.1%. The Wizards (17-59) have now lost four games in a row, and 20 of their 21 last matches. The Sixers scored 157 points, the second-most in the league. Washington allowed just 59. Philadelphia scored 157 points last Wednesday in a victory over Chicago. The news before the?game was about the?status?of Embiid. He played against Miami on Monday and scored 26 points. However, after the game, it was noted that he was feeling under the weather. He wrote on X, hours before the game on Wednesday: "I suppose they won't allow me to play basketball!! Field Level Media
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Oil rises by over 4% following Trump's statement that the U.S. will continue to attack Iran
Oil prices rose more than $4 on Thursday, after President Donald Trump announced that the United States will 'continue to strike iran in the coming weeks, including energy and oil targets, but did not give a timeline for the end of the war. Brent crude futures increased by $4.88 or 4.8% to $106.04 a barrel at 0200 GMT. U.S. West Texas Intermediate Crude Futures rose $4.17 or 4.2% to $104.29 per barrel. Both benchmarks fell by more than $1 on Thursday, before Trump's speech. They also settled lower the previous session. Trump stated in a televised address?to the country that?the U.S. Military had almost completed its goals in their war with Iran and that the conflict will soon be over, but did not give a specific timeline. We are going to complete the task, and we will do it very quickly. He said, "We're very close." As the conflict in the region intensifies, the threats to maritime traffic are increasing. The defence ministry of Qatar said that an Iranian cruise missile hit an oil tanker owned by QatarEnergy on Wednesday in Qatari waters. On Wednesday, the?head of International Energy Agency warned that disruptions in supply will begin to affect Europe's economy by April. The continent was previously shielded from the effects of war by contracts made before the conflict began. Reporting by Colleen Waye and Sudarshan Varadan; Editing by Himani Sakar and Edwina gibbs
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Investor reactions to Trump's speech about Iran war
In a televised address on Wednesday night, U.S. president Donald Trump said that the U.S. armed forces had almost completed the goals they had set for themselves in their war against?Iran. He also stated that the conflict would be over soon. He also said that the U.S. will continue to strike targets in the Islamic Republic for the next two or three weeks. After Trump's speech, stocks fell, the dollar strengthened and oil prices rose. Here are some comments from analysts and investors -- JON WITHAAR, SENIOR PORTFOLIO MANAGER, PICTET ASSET MANAGEMENT, SINGAPORE: The market wanted more clarity and certainty about the timeline. This is what we got from this speech. Boots?on?the ground are not out of the question, and the threats to strike infrastructure have been reiterated. This will put the markets 'on the defensive', especially as we approach the long weekend. TONY SYCAMORE - MARKET ANALYST IG SYDNEY "There was an assumption that we would see a continued de-escalation of the situation, as we have seen in the last couple of days. We saw that in general, but the market was looking for a bit more. "There was not much new to me. The Strait of Hormuz remains the variable in everyone's playbook. When you look at the stock market, we see a reaction of buy the rumour and sell the fact, but for crude oil, the opposite. "But there are still two to three more weeks of uncertainty hanging over the?markets." KAZUNORI TATEBE IS THE CHIEF STRATEGIST AT DAIWA ASSET MANAGEMENT IN TOKYO. Trump did not mention any details about when the war will end or when passage through the Strait of Hormuz would be possible in his speech. Still, there are uncertainties. The domestic equity market is not likely to continue rising. We need to take another step forward, such as the opening of the Strait. "The positive is that there is no danger of the war escalating." Reporting by Ankur Baerjee in Singapore and Gregor Stuart Hunter, in Tokyo. Compiled by Sumeet Chaterjee. Edited by Sam Holmes.
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After Trump's speech on Iran, stocks fall and the dollar increases
The 'dollar strengthened and oil prices rose after U.S. president Donald Trump stated that Washington's "core tactical objectives" in the Iran war are?nearing their completion. However, he stopped short of stating a specific date for the end of the conflict. After a bruising March, when soaring oil costs sent risk assets into a tailspin, the prospect of an end to the U.S. and Israeli war against Iran in its month-long phase has lifted global shares. Trump said in his primetime speech that the U.S. will strike Iran "extremely" hard over the next 2 to 3 weeks, and bring the country back into the "Stone Ages." U.S. stocks futures fell 0.67%, while European futures dropped 0.10%. The MSCI broadest index for Asia-Pacific stocks outside Japan fell by 0.75%. In volatile trading, Japan's Nikkei reversed its course and traded down by 0.79%. Investors and analysts were focused on the Strait of Hormuz reopening and how it would ease the supply bottleneck that had hit Asian economies hard. Iran has repeatedly fired on Gulf countries - some of which are home to U.S. military bases - and is using Strait of 'Hormuz as leverage. The Strait carries a fifth (of global oil) and liquefied gas. Worries about a'slowing of growth' and higher energy prices sapping the mood in March. After the speech, the U.S. Dollar rose against the majority of currencies. The euro fell 0.25%, to $1.156. Brent front-month contract for June increased by over 3%, to $104.75 a barrel. (Reporting and editing by Stephen Coates in Singapore, Ankur Banerjee)
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Oil prices fall on hope of US withdrawal from Iran war
Oil prices dropped more than $1 early on Thursday, as the markets awaited President Donald Trump's address to the nation that could signal the U.S. withdrawal from the war in Iran. Brent crude futures dropped $1.16 or 1.15% to $100 per barrel at 1204 GMT. U.S. West Texas Intermediate Crude futures fell $1.41 or 1.41% to $98.71 a barrel. Both benchmarks were lower in the previous session. Trump announced on Wednesday that he would be speaking at 9 pm, hours before the scheduled time. The U.S. is expected to end its war on Iran "fairly quickly" at 00:00 GMT (00:00 EDT) on Thursday. In a recent note, IG analyst Tony Sycamore said that "the overnight sell-off gained pace due to mounting hopes" that the Iran conflict was?finally winding down. The?market has been widely anticipating a decidedly dovish ton." Sycamore stated that a U.S. withdrawal does not guarantee reopening of Strait of Hormuz. Oil prices are likely to remain high if the U.S. does not reach a formal ceasefire agreement that would guarantee free passage, leaving its regional allies' energy assets and the U.S. vulnerable to Iranian attacks. As the conflict in the region intensifies, the threats to maritime traffic are increasing. The latest incident occurred on Wednesday when an oil tanker, leased by QatarEnergy, was struck by an Iranian cruise missile while in Qatari waters. On Wednesday, the head of International Energy Agency warned that supply disruptions would begin to impact Europe's economic growth in April. The continent was previously shielded from the effects of war by cargoes that were contracted before it began. (Reporting and editing by Colleen Waye)
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Australia's KGL resources signs $300 million streaming agreement with Wheaton Precious Metals
KGL Resources, an Australian miner, announced on Thursday that it had entered into a $300-million precious metals streaming agreement with a unit of Canada’s Wheaton Precious Materials for a?part of the gold and silver produced at?its Jervois Copper project. KGL shares rose 61.9%, to A$0.340. This was their best day since the middle of 2014. Stocks also reached their highest levels since May 22, 2020. KGL announced that Wheaton Precious Metals will fund up to $275m in advance, with an option of $25m for cost overruns. The upfront funding includes two $16 million installments that are available before construction starts, but subject to certain conditions, including regulatory approvals. The remaining $243 millions will be paid in four equal payments tied to the construction milestones. Wheaton will pay a portion of the spot price for silver and gold that is produced by the project. The streaming arrangement begins with 75% payable silver and gold, then drops to lower percentages when certain delivery thresholds are reached. KGL stated that the agreement included protections against delays in construction, including additional metal deliveries, should timelines slip. It also includes?security of project assets and corporate assets. KGL stated that the funding marked a significant step in developing the 'Jervois Project' and positioning the company to become an Australian copper producer. Wheaton has signed its first precious metals streaming contract in Australia. This follows its February announcement of a streaming deal covering?BHP?s share in Peru's Antamina?mine. Wheaton, one of the largest precious metals streaming companies in the world, is focused on gold and Silver. (Reporting by Rajasik Mukherjee in Bengaluru; Editing by Rashmi Aich)
Florida Vice mayor killed, wife jailed for suspect
Officials said that the vice mayor of Coral Springs in Florida was shot dead on Wednesday and her husband, who is the only suspect, was arrested. Police referred to this as a domestic violence case.
Nancy Metayer Bowen was the first Black and Haitian American woman in Coral Springs. Coral Springs is a town with 134,000 people, located about 45 miles north of Miami.
According to the website of the city, she was elected in 2020 to the 'commission, re-elected again in 2024 and appointed vice mayor by her fellow commissioners. The 'Sun Sentinel' reported that Democratic presidential nominee Kamala?Harris named her as a?director of Caribbean votes in Florida for?her campaign, according to a?2024 report.
The police responded to an emergency call and found Metayer's dead body at her home. They arrested her husband later. Officials said that he was booked in the Broward County Jail, Fort Lauderdale.
Stephen Bowen was listed at 40 as the 'chief operating officer of Men of St. Luke. This is a religious, fraternal, nonprofit organization registered in Broward County.
Bowen's defense lawyer has not been listed in court records, and authorities haven't said if he retained an attorney.
Joshua Simmons, a fellow commissioner, remembered Metayer Bowen as "a battle buddy" and said he tried to shield her against the harshness of politics.
"She was a person with a great heart." "She truly cared about people, even when they said some of the worst things about her," Simmons said at a press event.
(source: Reuters)