monsitj/iStock via Getty Images Gold and silver futures fell Thursday alongside strong gains in crude oil, a match that has been common since the start of the Iran war. Despite gold's reputation as a safe-haven trade, the metal has fallen since the U.S. and Israel launched strikes on Iran 12 days ago, while Brent crude oil has climbed 38% during the period to slightly over $100/bbl; gold initially...
monsitj/iStock via Getty Images Gold and silver futures fell Thursday alongside strong gains in crude oil, a match that has been common since the start of the Iran war. Despite gold's reputation as a safe-haven trade, the metal has fallen since the U.S. and Israel launched strikes on Iran 12 days ago, while Brent crude oil has climbed 38% during the period to slightly over $100/bbl; gold initially gained, but a selloff trimmed prices to $5,085/oz on March 3, and it has traded between $5,050 and $5,200 this week, even as the conflict has escalated. Several factors can explain gold's relative weakness, including a stronger dollar and higher Treasury yields, Metals Daily CEO Ross Norman said, adding that rising oil prices could lead to prolonged inflation and potentially higher interest rates, which tend to increase the relative appeal of yielding assets such as government bonds compared to non-yielding precious metals. " Gold and silver's price movements look lackluster just now, but perhaps that's the way to feel after some epic moves over the last few months," Norman told CNBC . Gold and silver scored their best-ever monthly dollar gains in February ; gold had gained for seven straight months, climbing nearly 60%, and silver increased for 10 consecutive months, skyrocketing 185% during that time. Bank forecasts remain largely bullish despite the short-term volatility, however, as J.P. Morgan sees gold reaching $6,300/oz by the end of 2026 and Deutsche Bank targets gold at $6,000 by year-end. Fr ont-month Comex gold ( XAUUSD:CUR ) for March delivery finished -1% to $5,115.80/oz, and front-month Comex March silver ( XAGUSD:CUR ) settled -0.4% to $84.67/oz. ETFs: ( GLD ), ( GDX ), ( GDXJ ), ( IAU ), ( NUGT ), ( PHYS ), ( GLDM ), ( AAAU ), ( SGOL ), ( RING ), ( BAR ), ( OUNZ ), ( SLV ), ( PSLV ), ( SIVR ), ( SIL ), ( SILJ ) More on gold and silver A One-Day Blip Doesn't Derail The Bull Case For Gold Sustaining Strength In A Higher Gold Price Environment Gold And Silver ...