Khaberni - Gold prices reversed their direction to decline by more than 1% on Thursday, ending a 4-day winning streak, after US President Donald Trump said the United States would continue the war on Iran in the coming weeks.
Gold in spot transactions fell 1.3% to $4694.48 per ounce by 02:02 GMT, and US futures contracts for gold fell 1.9% to $4723.70.
Prices had risen by more than 1% to reach their highest levels since March 19 before Trump's statements.
Trump said in a televised national address that the United States will strike Iran "very hard" in the next two to three weeks and return it to the "Stone Age," adding that the strategic objectives of the United States in the conflict are nearing completion.
Brent oil prices rose by more than 4% while yields on US Treasury bonds for ten years and the dollar index rose, negatively affecting the metal priced in dollars.
The precious metal declined by 11% in March, recording its worst monthly loss since 2008, after the outbreak of war in Iran on February 28, which led to higher oil prices and increased inflationary pressures, casting a shadow of uncertainty on the monetary policy path of the Federal Reserve (the US central bank).
As for other precious metals, silver in spot transactions fell 2.9% to $72.95, platinum fell 1.8% to $1928.26, and palladium fell 1.4% to $1451.85.
