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Gold Falls 0.81%, Silver Drops 1.37% on Wednesday as Oil Jumps Following U.S.-Iran Military Clashes

Metals Commodities

2026-06-04 07:26:20

CL-3.49%

According to Kitco, spot gold fell 0.81% to $4,451.70 per ounce and silver dropped 1.37% to $74.105 on Wednesday, as rising oil prices, a firmer U.S. dollar and escalating U.S.-Iran hostilities offset safe-haven demand.

U.S. and Iranian forces exchanged fire after Washington disabled an Iranian tanker it said was breaching the blockade, prompting Iran to launch missiles at U.S. bases in Bahrain and Kuwait. Nymex WTI crude oil surged to $95.78 per barrel, while Brent crude rose to $97.89, as peace deal odds declined amid stalled strait-reopening talks.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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