Gold fell $24 to $3,999 an ounce, while oil climbed sharply as signs grew that the United States could escalate its confrontation with Iran. WTI crude rose $4.01 to $103.47 a barrel, and Brent touched $117, its highest level since May.
Trump himself said he may do a “little Epic Fury” against Iran. The prospect of conflict pushed oil higher into the weekend.
Yields and equities respond
The oil jump lifted Treasury yields, with the US 10-year rising 4.6 basis points to 5.00 percent. The S&P 500 fell 0.5 percent over the same session. Yields climbing on an energy shock weighed on gold, which lost ground even as geopolitical risk rose.
Meta fell about 1 percent after a 7 percent decline the previous day, as it readies a new class of shares. Telecom stocks also dropped on reports that Elon Musk would move Starlink to earth and install cell phone towers or buy space on existing ones.
Currencies and European unrest
The euro came under pressure from protests in France and elsewhere. In currency markets the Australian dollar led gains, while the Swiss franc lagged.
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By our market data, as of 01:46 GMT on 24 October, gold stood at $3,997.89 an ounce, its lowest in 31 days. The S&P 500 closed at 7,633.33 points on 23 October, down 0.39 percent.
Related: Brent tops $114 a barrel on renewed US-Iran fears · Gold slips to lowest in 31 days as oil lifts rate fears
Data: LBMA · S&P Dow Jones Indices · U.S. Department of the Treasury
