Precious metal prices retreat from record highs as Trump signals policy shift on Iran and trade

Gold Spot XAUUSDprices fell 0.4% to $4,602.99 per ounce as of 0931 GMT on January 15, 2026, representing a retreat from the record high of $4,642.72 reached on January 14, 2026. The decline occurred as U.S. USPresident Donald Trump donald trumpsignaled a pause on military action against Iran IR.

Simultaneously, the United Statesgovernment administration held off on imposing tariffs on critical minerals, a move that reduced safe-haven demand across the precious metals complex.\n\nThe market reaction extended beyond spot prices as Gold Futures GCfor February delivery fell 0.6% to $4,607.60. Other assets also saw significant corrections, including Silver Spot XAGUSD, which slid 3% to $89.97 per ounce after hitting an all-time high of $93.57 earlier in the session. Similarly, Platinum Spot XPTUSDreceded 1.8% to $2,340.54 per ounce, coming off its record peak of $2,478.50 set on December 29.