--- title: "PRECIOUS-Gold drops on stronger dollar, rising bets on higher interest rates" type: "News" locale: "en" url: "https://longbridge.com/en/news/281533759.md" datetime: "2026-04-02T13:31:29.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281533759.md) - [en](https://longbridge.com/en/news/281533759.md) - [zh-HK](https://longbridge.com/zh-HK/news/281533759.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/281533759.md) | [繁體中文](https://longbridge.com/zh-HK/news/281533759.md) # PRECIOUS-Gold drops on stronger dollar, rising bets on higher interest rates - Turkey’s gold reserves tumble nearly 120 tons in two weeks - Indian dealers charge first gold premiums in two months - Silver falls more than 7% (Updates for US morning hours) By Ashitha Shivaprasad April 2 (Reuters) - Gold prices fell on Thursday as the U.S. dollar and oil prices rose after President Donald Trump said the U.S. would continue attacks on Iran, spurring inflation concerns and bolstering expectations of higher interest rates. Spot gold (XAU=) was down 3.6% at $4,587.55 per ounce as of 9:15 a.m. EDT (1315 GMT), after hitting a two-week high earlier in the session. U.S. gold futures (GCcv1) fell 4.2% to $4,613.30. The dollar rose sharply, making greenback-priced bullion less affordable to other currency holders. (USD/) “The market is very focused on Trump’s comments, which so far offer little sign of a quick resolution to the energy situation,” said David Meger, director of metals trading at High Ridge Futures. This is weighing on gold and silver prices, as there is less likelihood of rate cuts, he added. Trump said in a televised speech that the U.S. military had nearly accomplished its goals in Iran, but offered no clear timeline for ending the month-long war and vowed to bomb the country back into the “Stone Ages”. Following this, oil prices climbed. Higher energy prices feed through to broader inflation, reducing the scope for central banks to cut rates. (FEDWATCH) Despite its inflation-hedge status, gold struggles when rates are high as it yields no interest. Spot gold has fallen 13% since the Iran conflict started on February 28. Sentiment was also hit by news that the Turkish central bank’s gold reserves dropped by 69.1 metric tons to 702.5 tons last week, bringing the fall in the last two weeks to more than 118 tons as authorities seek to blunt market fallout from the war. In Asia, gold traded at a premium in India for the first time in two months as softer prices boosted demand, while premiums in China ticked down slightly as buyers awaited a deeper correction. (GOL/AS) In other metals, spot silver (XAG=) dropped 7.1% to $69.78, platinum (XPT=) fell 2.7% to $1,911.13 and palladium (XPD=) shed 1.3% to $1,453.70. ### Related Stocks - [MicroSectors™ Gold Miners 3X Lvrgd ETN (GDXU.US)](https://longbridge.com/en/quote/GDXU.US.md) - [YieldMax Gold Miners Opt Inc Strgy ETF (GDXY.US)](https://longbridge.com/en/quote/GDXY.US.md) - [Gold.com (GOLD.US)](https://longbridge.com/en/quote/GOLD.US.md) - [EFUND GOLD MI-U (09824.HK)](https://longbridge.com/en/quote/09824.HK.md) - [VanEck Gold Miners ETF (GDX.US)](https://longbridge.com/en/quote/GDX.US.md) - [SD-GOLD (600547.CN)](https://longbridge.com/en/quote/600547.CN.md) - [SPDR® Gold MiniShares (GLDM.US)](https://longbridge.com/en/quote/GLDM.US.md) - [EFUND GOLD MI-R (82824.HK)](https://longbridge.com/en/quote/82824.HK.md) - [Direxion Daily Jr Gld Mnrs Bull 2X ETF (JNUG.US)](https://longbridge.com/en/quote/JNUG.US.md) - [Agnico Eagle Mines Limited (AEM.US)](https://longbridge.com/en/quote/AEM.US.md) - [Newmont Corporation (NEM.US)](https://longbridge.com/en/quote/NEM.US.md) - [Zijin Mining (601899.CN)](https://longbridge.com/en/quote/601899.CN.md) - [US Global GO GOLD and Prec Mtl Mnrs ETF (GOAU.US)](https://longbridge.com/en/quote/GOAU.US.md) - [Sprott Junior Gold Miners ETF (SGDJ.US)](https://longbridge.com/en/quote/SGDJ.US.md) - [Sprott Gold Miners ETF (SGDM.US)](https://longbridge.com/en/quote/SGDM.US.md) - [Roundhill Gold Miners Weeklypay ETF (GDXW.US)](https://longbridge.com/en/quote/GDXW.US.md) - [iShares Gold Trust (IAU.US)](https://longbridge.com/en/quote/IAU.US.md) - [ChinaAMC Gold ETF (518850.CN)](https://longbridge.com/en/quote/518850.CN.md) - [Direxion Daily Gold Miners Bull 2X ETF (NUGT.US)](https://longbridge.com/en/quote/NUGT.US.md) - [ZHONGJIN GOLD (600489.CN)](https://longbridge.com/en/quote/600489.CN.md) - [ProShares Ultra Gold (UGL.US)](https://longbridge.com/en/quote/UGL.US.md) - [VanEck Junior Gold Miners ETF (GDXJ.US)](https://longbridge.com/en/quote/GDXJ.US.md) - [abrdn Physical Gold Shares ETF (SGOL.US)](https://longbridge.com/en/quote/SGOL.US.md) - [iShares MSCI Global Gold Miners ETF (RING.US)](https://longbridge.com/en/quote/RING.US.md) - [Kinross Gold Corporation (KGC.US)](https://longbridge.com/en/quote/KGC.US.md) - [Global X Gold Explorers ETF (GOEX.US)](https://longbridge.com/en/quote/GOEX.US.md) - [EFUND GOLD MI ETF (02824.HK)](https://longbridge.com/en/quote/02824.HK.md) - [SPDR® Gold Shares (GLD.US)](https://longbridge.com/en/quote/GLD.US.md) ## Related News & Research - [Markets await Trump speech](https://longbridge.com/en/news/281441048.md) - [PRECIOUS-Gold slides sharply as oil surges on dimming hopes of end to Iran war](https://longbridge.com/en/news/281518637.md) - [PRECIOUS-Gold falls as Trump gives no clarity on ending Iran war](https://longbridge.com/en/news/281453345.md) - [Gold Hunter shifts from quiet buildup to fully funded drilling push at Newfoundland gold district](https://longbridge.com/en/news/281261616.md) - [Fed's Musalem says inflation will go up on commodity price shock](https://longbridge.com/en/news/281379101.md)