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Gold Prices Dip Amid Tensions, Trump Calls for Cooperation

3/16/2026

31 2 Full Breakdown

Summary

Story summary

On March 16, 2026, gold prices moved as tensions rose, with spot gold down 0.2% to $5,007.58 per ounce and U.S. gold futures down 1% to $5,011.10.
Analysts say higher energy prices could raise inflation and keep rates elevated, dampening gold's appeal.
Bob Haberkorn of RJO Futures said gold could reach $6,000 per ounce.
U.S. President Donald Trump called for international cooperation to secure the Strait of Hormuz, influencing markets.

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Story summary

On March 16, 2026, gold prices moved as tensions rose, with spot gold down 0.2% to $5,007.58 per ounce and U.S. gold futures down 1% to $5,011.10.
Analysts say higher energy prices could raise inflation and keep rates elevated, dampening gold's appeal.
Bob Haberkorn of RJO Futures said gold could reach $6,000 per ounce.
U.S. President Donald Trump called for international cooperation to secure the Strait of Hormuz, influencing markets.