• Gold and silver fell sharply as investors reassessed inflation and interest-rate paths after Trump's remarks failed to yield a clear war resolution.
  • Prices have declined roughly 11% from their wartime highs, with gold near the mid-4,670s per ounce and silver down around 4–5% on the day.
  • The selloff reflects rising inflation fears from higher oil prices, which could push central banks to keep rates higher for longer—bad news for non-yielding assets like gold.

Gold and silver tumbled in volatile trading as markets digested the latest geopolitical developments and their implications for monetary policy. Spot gold dropped about 3% to around $4,670 per ounce, while silver fell over 5%, according to real-time data from major exchanges. The moves came after former President Trump's remarks on the ongoing conflict did not provide a clear end to the war, leaving investors to price in prolonged uncertainty.

Traders cited a risk-off reaction in precious metals, with some locking in profits ahead of the long Easter weekend, adding to the decline. "We're seeing a classic reassessment of safe-haven assets when inflation risks spike and central banks signal they might stay hawkish," said one market analyst, who requested anonymity because they were not authorized to speak publicly. Efforts to reach representatives from major gold ETFs for comment were unsuccessful by press time.

The selloff aligns with broad selling across non-yielding assets as higher oil prices fuel inflation concerns, potentially forcing the Federal Reserve and other central banks to maintain restrictive policies. Prices are down roughly 11% since the war began, erasing gains from a rally driven by safe-haven demand in previous weeks. Without a clearer resolution, analysts warn that volatility could persist, testing support levels in the mid-4,600s for gold.

Industry sources note that the metals complex is reacting to shifting expectations about monetary policy credibility and the potential for a protracted conflict. If inflation persists and rates stay elevated, gold's upside may remain tempered, but geopolitical risk could support a floor. Watch for further developments on oil prices and central bank guidance, which will reframe valuations in the coming days.

Correction: An earlier version of this article misstated the percentage decline in silver; it has been updated to reflect the correct figure.