Gold Hits USD4,340 as Iran Deal Hopes Drag Oil Prices Lower
Spot gold advanced 0.6% to $4,340 per ounce as of 0610 GMT, with silver tracking the move higher — up 0.4% to $68.4 per ounce.
Energy markets moved in the opposite direction. Brent crude futures slipped 1.2% to $93.2 per barrel, while West Texas Intermediate (WTI) shed 1.5% to trade at $89.9. Europe's benchmark gas measure, the TTF Gas index, declined 1% to €49.9 per megawatt-hour, and heating oil eased 0.5% to $3.5 per gallon — all reflecting reduced geopolitical risk premiums baked into energy prices.
The selloff follows a significant de-escalation in the Middle East, after Iran and Israel agreed to suspend hostilities that had threatened to unravel a fragile ceasefire. Diplomatic momentum appeared to accelerate quickly in its wake.
President Donald Trump confirmed early Tuesday that U.S.-Iran negotiations had continued uninterrupted throughout the period of heightened military tension — a notable signal of back-channel resilience.
"One or two days from now, but I think it's going well," Trump said, suggesting a formal agreement to end the conflict could be imminent.
Markets appeared to price in that optimism swiftly, rotating out of energy and into metals as traders recalibrated risk exposure ahead of what could be a landmark diplomatic development.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
