Gold drops below $4,600 as Trump signals possible non-intervention in Iran

Gold prices fell on January 15 following remarks by U.S. President Donald Trump about Iran, easing from recent highs amid shifting geopolitical sentiment.

During the trading session, February 2026 gold futures dipped below $4,600 per troy ounce. Data from Comex, the commodities division of the New York Mercantile Exchange, showed the metal’s intraday low at approximately $4,585. Prices later recovered modestly to around $4,615, but still ended the day about 0.45 per cent lower compared to the previous session’s close.

Silver showed a parallel decline. After reaching a record high of $91 per ounce on January 14, the metal dropped by roughly 3.5 per cent the following day, sliding below the $89 mark.

Ilya Spivak, head of global macroeconomics at Tastylive, attributed part of the downturn to Trump’s recent comments on Iran. The U.S. president suggested Washington might choose not to intervene in the country’s internal affairs as mass protests continue there.

Spivak noted that gold and silver are highly volatile assets, and even modest improvements in the geopolitical climate typically trigger price corrections.

By Tamilla Hasanova