(Updates prices, adds details and comments)<ul><li>Trump vows to strike Iran “extremely hard” over next few weeks</li><li>US dollar advances; Brent surges over 4%</li><li>Fed’s Alberto Musalem says no need to change interest rate stance now</li></ul>By Anmol Choubey and Pablo SinhaApril 2 (Reuters) - Gold prices reversed course to slip more than 1% on Thursday, snapping a four-day winning streak, after U.S. President Donald Trump said the United States would continue the war in Iran over the coming weeks.Spot gold (XAU=) fell 1.3% at $4,694.48 per ounce by 0202 GMT, while U.S. gold futures (GCcv1) slid 1.9% to $4,723.70. Prices were up over 1% at their highest levels since March 19 before Trump’s remarks. The United States would strike Iran “extremely hard” over the next two to three weeks and push it back into the “Stone Ages,” Trump told the nation in a televised speech, adding that U.S. strategic objectives in the conflict were close to being fulfilled.“Gold is pulling back after two superb days, as President Trump was quite bellicose in his tone, referring to aggressive plans over the coming weeks… it suggests the optimism of the last few days was overexuberant and there will be some retracement ahead of the long weekend,” said independent metals trader Tai Wong.Brent oil prices surged by more than 4%, while the 10-year U.S. Treasury yield and the dollar index advanced, weighing on the greenback-priced metal. (USD/) (US/)The metal dropped 11% in March, its worst monthly loss since 2008, after the onset of the conflict in Iran on February 28, which has driven oil prices higher and added to inflation pressures, clouding the Fed’s path for monetary policy.Fed rate-cut expectations remain low through most of 2026, with markets largely pricing in no change until a modest 25% chance of a cut emerges at the December meeting. (FEDWATCH)Despite gold’s appeal during periods of inflation and geopolitical tension, higher interest rates tend to curb bullion’s attractiveness by increasing the opportunity cost of holding the non-yielding asset. St. Louis Federal Reserve President Alberto Musalem said on Wednesday there is no need for the U.S. central bank to change its interest rate stance at this time amid rising inflation risks.In other metals, spot silver (XAG=) fell 2.9% to $72.95, platinum (XPT=) dropped 1.8% to $1,928.26 and palladium (XPD=) shed 1.4% to $1,451.85.

At 9 p.m. Eastern Time on Wednesday, Trump delivered a national address, claiming a "rapid and decisive victory" in the US military's war against Iran and stating that core strategic objectives were nearing completion. He emphasized that Iran would never be allowed to possess nuclear weapons and called the US strikes on Iranian nuclear facilities a "huge success." Regarding the Strait of Hormuz, Trump encouraged countries to "take responsibility for themselves" without providing a clear timetable for its reopening. Escalating tensions in the Middle East have put markets on edge, and the US military may intensify its strikes in the coming weeks. Will the US-Iran conflict end quickly as Trump hopes? How will the energy market evolve?

At 9 p.m. Eastern Time on Wednesday, Trump delivered a national address, claiming a "rapid and decisive victory" in the US military's war against Iran and stating that core strategic objectives were nearing completion. He emphasized that Iran would never be allowed to possess nuclear weapons and called the US strikes on Iranian nuclear facilities a "huge success." Regarding the Strait of Hormuz, Trump encouraged countries to "take responsibility for themselves" without providing a clear timetable for its reopening. Escalating tensions in the Middle East have put markets on edge, and the US military may intensify its strikes in the coming weeks. Will the US-Iran conflict end quickly as Trump hopes? How will the energy market evolve?

Trump's tough stance: Is the war with Iran nearing its end?

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PRECIOUS-Gold falls as Trump gives no clarity on ending Iran war