Global gold prices plunge following Trump’s Iran address

Gold prices in the international market fell sharply on April 2, 2026, ending a four-day streak of continuous gains. The price of gold dropped by 1.3%, bringing the rate to $4,694 per ounce.

Analysts attributed the decline to U.S. President Donald Trump’s recent address, in which he announced the continuation of military operations against Iran. The speech also impacted global stock markets, triggering a significant downturn, while oil prices surged in response to heightened geopolitical tensions.

The spike in oil prices is expected to have a domestic impact, with petrol in Pakistan likely to rise to 100 PKR per litre. Considering the fluctuations in the global market, gold prices in Pakistan are also expected to see a notable decrease, following a sharp increase of 15,300 PKR observed the previous day.

Investors and traders are closely monitoring both geopolitical developments and market responses, as uncertainty continues to drive volatility across commodities and financial markets.