Gold rose on Thursday as traders moved back into bullion after a sharp sell-off, helped by weaker oil prices and a calmer inflation backdrop following the release of a US-Iran interim agreement. Spot prices climbed more than 1%, reversing part of Wednesday’s decline, as crude fell on hopes that energy flows through the Strait of
Silver rose in Asian trade on Thursday, but the move looked more like a cautious recovery than the start of a clean breakout. XAG/USD traded near $69.15 an ounce as lower oil prices eased inflation concerns following the US-Iran interim agreement. The metal drew support from the broader precious-metals rebound, with gold also recovering after
Copper prices slid as markets reacted to the debut of Kevin Warsh as US Federal Reserve Chair, with his hawkish stance on inflation unsettling investors and sparking a selloff across commodities. The decline underscored how sensitive copper remains to monetary policy signals, particularly when they point to tighter financial conditions. At the time of writing,
Oil prices plunged more than 4% on Tuesday to a fresh three-month low on growing expectations that the US and Iran would agree to end the war. The price of West Texas Intermediate crude fell to a three-month low of $76.59 a barrel, while Brent dipped to $79.51 per barrel. Meanwhile, gold prices rose slightly
Oil prices fell sharply on Wednesday as prospects of renewed Iranian supply eased inflation worries and pulled government bond yields lower, while global equities traded cautiously before Kevin Warsh’s first Federal Reserve policy decision as chair. Brent crude dropped below $80 a barrel, its weakest level since the US-Iran conflict began in March, after a
Gold extended its advance on Wednesday as falling oil prices and hopes of a US-Iran peace agreement softened one of the market’s biggest inflation worries before the Federal Reserve’s policy decision. Spot bullion rose for a fifth straight session, trading near a one-week high, as investors weighed the prospect of Iranian oil returning to global
Silver rose for a fifth straight session on Wednesday as investors treated the emerging US-Iran peace framework as a fresh reason to reassess inflation and interest-rate risks. Spot silver traded around $70.40 an ounce in Asian hours, extending a recovery that has followed a sharp retreat in crude prices. The move is not simply a
The US and Iran reached a framework agreement to extend the current ceasefire by 60 days and reopen the Strait of Hormuz to shipping. The pact is scheduled to be signed this Friday in Switzerland, paving the way for the gradual resumption of energy exports from the Gulf region. Energy markets reacted with immediate relief.
Barclays has maintained its bullish long-term outlook for gold, forecasting the metal will reach $4,791 per ounce by the end of 2026 and $4,900 in 2027, even after a sharp correction during the Iran conflict. In a research note published this week, the UK bank’s cross-asset research team, led by Lefteris Farmakis and Themistoklis Fiotakis,
Exxon Mobil Corp. has struck a preliminary deal to supply liquefied natural gas (LNG) to South Africa, helping the country diversify its heavily coal-dependent power grid, according to Bloomberg. The agreement will allow state utility Eskom Holdings SOC Ltd. to import LNG at the proposed Zululand LNG terminal in Richards Bay on South Africa’s east