Trump Eases Inflation Fears as Gold Hits $4,430
Gold prices continued their upward trend on September 2, 2026, reaching as high as $4,430 an ounce. The rise came after US President Donald Trump indicated that military action in the Middle East would likely be short-lived, easing concerns about inflation driven by higher energy costs.
Oil prices had surged earlier in the day due to escalating tensions in the region, but Trump's comments led to a reversal in oil's rally. The halt in oil's advance contributed to gold's gain, as investors sought refuge from potential inflationary pressures.