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fxJul 8, 2026, 5:50 PM

Gold Slides Over 1.3% as Trump's Iran Warning Boosts Dollar

Gold prices fell more than 1.3% on Wednesday after US President Donald Trump declared the agreement to end the war with Iran "over," strengthening the US Dollar.

XAUUSD

Gold (XAU/USD) dropped sharply on Wednesday, losing over 1.30% as the US Dollar rallied on geopolitical news. US President Donald Trump stated that the agreement to end hostilities with Iran is "over," boosting demand for the Greenback and pressuring the precious metal.

At the time of the report, XAU/USD traded at $4,059, having touched a four-day low earlier in the session. The decline marks a significant reversal from recent highs, with traders citing the stronger dollar as the primary catalyst.

The move underscores how shifting Middle East tensions continue to influence currency and commodity markets. No further details on the Iran agreement or potential next steps have been released.

Source: FXStreet Forex News