PANews reported on April 2 that US President Trump began his speech on Iran: "Most of Iran's leaders are dead, the Iranian navy is gone, and the air force is in ruins; the US military has achieved a swift and decisive victory; the Iranian air force is in ruins, and the command and control capabilities of the Islamic Revolutionary Guard Corps are being destroyed; we do not need oil from the Middle East; thanks in part to Venezuelan oil and gas, the United States is no longer dependent on the Middle East."

During Trump's speech, spot gold briefly plunged nearly $60, currently trading at $4737.15 per ounce.