Gold Price Rises as U.S. Presents Iran Peace Plan and Oil Falls Below $100

TLDR

Gold rose nearly 2% to around $4,553 an ounce on Wednesday The U.S. presented Iran with a 15-point peace proposal to end the war Iran rejected the ceasefire plan and continued attacks on Israel and Gulf states Oil briefly dropped below $100 a barrel on peace talk hopes Lower oil prices and a weaker dollar supported gold’s gains

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Gold prices jumped on Wednesday after the United States presented Iran with a 15-point peace plan, raising hopes that the ongoing war could be nearing a resolution.

Spot gold rose 1.8% to around $4,553 an ounce by mid-morning in New York. U.S. gold futures climbed 3.4% to $4,585 an ounce. The move extended a 1.6% gain from the previous session, snapping a nine-day losing streak.

Gold Apr 26 (GC=F)

The peace proposal, reportedly driven by President Donald Trump, includes demands for Iran to dismantle its main nuclear sites. It also calls for the reopening of the Strait of Hormuz, a key shipping lane south of Iran that has been closed to tanker traffic for weeks.

Iran rejected the ceasefire proposal. The Fars news agency reported that Tehran said talks were not viable under current conditions. An Iranian military spokesperson said the U.S. was only “negotiating with itself.”

JUST IN: Iran responds on the Negotiations allegations:

"You have reached a stage where you are negotiating with yourselves"

“Do not call your defeat an agreement.”

“There will be no news of your investments in the region, and you will not see the former price of energy and… pic.twitter.com/ufZ0GchFjF

— Sulaiman Ahmed (@ShaykhSulaiman) March 25, 2026

Iran also set conditions for any talks, including collecting fees from ships passing through the strait. Attacks on Israeli and Gulf Arab targets continued despite the proposal.

Earlier this week, Trump announced a five-day pause on U.S. military strikes on Iranian energy infrastructure. He described prior talks with Tehran as “productive.” Iranian officials disputed this, saying Trump fabricated the discussions.

Some Gulf states, including Saudi Arabia and the United Arab Emirates, reportedly urged Trump to continue military pressure until Iran’s regional influence is reduced.

Oil Drops, Supporting Gold

Oil prices fell on the peace talk news. Brent crude briefly dipped below $100 a barrel, though it remains well above the roughly $70 level seen before the conflict began in late February.

Lower energy prices can reduce inflation expectations, which tends to push down bond yields and weaken the dollar. Both of those conditions generally support gold, which pays no interest.

Analysts at ING noted that easing oil prices and a softer dollar added support for gold. They also flagged that gold remains sensitive to currency moves, geopolitical developments, and Federal Reserve policy decisions in the near term.

Investors and Central Banks Eye Gold

Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note that reduced investor positioning, lower Middle East buying, and rate hike expectations had weighed on gold recently. He said those factors could reverse in coming months.

Silver also gained, rising 2.2% to $72.81 an ounce. Platinum advanced while palladium fell.

Turkey’s central bank is reportedly considering gold-for-foreign-currency swap transactions in the London market to protect the lira from war-related volatility. Analysts said such moves would not represent a liquidation of reserves.

Spot gold was at $4,558 an ounce as of mid-morning New York time on Wednesday.

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