A stronger US dollar and easing of Trump's threats against Iran pushed gold and silver prices down.

PANews reported on January 16th that gold and silver prices both fell on Friday due to a stronger dollar, following weaker-than-expected US initial jobless claims. Furthermore, US President Trump's more moderate stance on Iran also weakened safe-haven demand for precious metals. Analysts stated that this decline is related to the dollar index rising to 99.49, its highest level since early December. Market observers noted that despite recent pullbacks in gold and silver, domestic turmoil in Iran and geopolitical risks related to Venezuela and Greenland continue to support safe-haven demand for precious metals. These uncertainties keep investors focused on precious metals as a risk hedging asset. Analysts expect gold and silver prices to remain volatile this week, primarily influenced by fluctuations in the dollar index, while the market awaits a major ruling from the US Supreme Court regarding tariffs, which could further impact precious metal price movements.