Gold Rebounds on Trump's Iran Conflict Signal

Gold prices rebounded slightly on Wednesday after falling for three straight sessions. Spot gold rose 0.1% to $4,386.94 an ounce in Singapore, while silver gained 0.1% to $65.38 an ounce.

The recovery was attributed to US President Donald Trump's comments on the latest fighting with Iran, which suggested that the military action could be short-lived instead of turning into a long war. This reduced some fears about a prolonged conflict and a major rise in energy prices.

Oil prices had jumped due to the fresh US-Iran fighting and concerns around the Strait of Hormuz. However, Trump's comments helped slow down oil's rally, reducing some of the immediate pressure on markets.