TD Securities’ commodity strategists, led by Bart Melek, note that Gold investors have sharply reduced long exposure as higher Oil prices from the US‑Iran conflict threaten recent disinflation progress.

BNY’s Geoff Yu notes that Iran’s signals of continued military response alongside active mediation keep the Middle East conflict in a managed but unstable phase.

Silver (XAG/USD) advances toward $56.90 per troy ounce on Monday at the time of writing, gaining 1.62% on the day. The precious metal continues to benefit from safe-haven demand as geopolitical tensions in the Middle East keep risk sentiment under pressure.

Yemen's Houthis announced on Monday a naval blockade against Saudi Arabia, according to a statement reported by Reuters.

Rabobank says renewed U.S.-Iran tensions, Russia-Ukraine strikes and CPC loading disruptions have lifted crude and refining margins sharply. Brent briefly topped $90, while severe diesel-market tightness is feeding through to export policy and U.S. pump prices.

West Texas Intermediate (WTI) US Oil trades around $81.30 on Monday at the time of writing, down 0.54% on the day as investors take some profits following the commodity's sharp rally in recent weeks.

Gold (XAU/USD) shows marginal gains on Monday, as the US Dollar recovery stalled and Oil prices pulled back from highs. The precious metal remains capped below a descending trendline resistance, but downside attempts remain supported above the $3,965 area, thus forming a descending triangle pattern

Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $56.83 per troy ounce, up 1.49% from the $56.00 it cost on Friday.

Rabobank’s RaboResearch Global Economics & Markets team highlights that Brent Oil trading near $90 and elevated crack spreads underscore tight energy conditions as geopolitical risks escalate around Iran and Hormuz.

Deutsche Bank strategists highlight a sharp rebound in Brent Oil as US–Iran tensions escalate, with Brent posting its biggest weekly gain since April and extending gains this morning.

Silver (XAG/USD) sticks to its modest intraday gains during the early European session on Monday and currently trades just below the $57.00 mark, up over 1.50% for the day.

Oil prices jumped on Monday as US and Iran hostilities escalated, threatening an all-out war, which keeps the Strait of Hormuz closed for sea traffic.

ING analysts Warren Patterson and Ewa Manthey note that Brent Oil has broken above US$90 as escalating conflict in the Persian Gulf and potential chokepoint closures disrupt vessel flows.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – kicks off the new week on a positive note and touches a fresh high since June 12, around the $84.40-$84.45 region, during the Asian session.

Gold (XAU/USD) reverses a modest Asian session dip to the $3,983-$3,982 area and is now looking to build on Friday's bounce from the monthly low. The intraday uptick is sponsored by a softer US Dollar (USD), which tends to benefit the commodity.

TradingKey - As of the early Asian session on July 20, international oil prices opened significantly higher, with WTI crude ( USOIL) rising 2.21%, peaking at $84.60; Brent crude ( UKOIL) rising 2.27%,

Gold price (XAU/USD) falls to around $4,000 during the early Asian trading hours on Monday. The precious metal hovers around the psychological level in recent weeks after losing 14% in the second quarter (Q2), its worst showing since 2013.

Silver price recovered some ground on Friday, up 0.84%, but it is poised to finish the week down over 6.50%. At the time of writing, XAG/USD trades at $56.00 per troy ounce, after reaching a new year-to-date (YTD) low of $54.77.

Gold edges higher by some 0.92% on Friday as the US-Iran conflict boosted energy prices, which ultimately drive inflation higher, increasing expectations that the Federal Reserve (Fed) might need to raise interest rates.

United States Baker Hughes US Oil Rig Count above forecasts (446): Actual (452)

West Texas Intermediate (WTI) trades around $81.10 at the time of writing on Friday, up 2.76% on the day, and is heading for a weekly gain of more than 13% as geopolitical tensions in the Middle East continue to escalate.

Commerzbank’s commodity team highlights renewed geopolitical risks for Oil as Iran again threatens to block the Strait of Bab al-Mandab, a key route for Saudi exports rerouted from the Strait of Hormuz.

Thu Lan Nguyen at Commerzbank notes that weaker United States (US inflation data briefly supported Gold, but the price has slipped back below USD 4,000 per troy ounce.

Tradingkey - On July 17, Eastern Time, the US-Iran conflict continued to escalate, with the two major crude oil futures rising again, returning to mid-June price levels. As of press time, WTI crude oi

Norman Liebke at Commerzbank expects European gas prices to remain high in the near term, even if the Strait of Hormuz reopens sustainably.

Gold (XAU/USD) holds firm on Friday but lacks bullish momentum as rising Oil prices revive inflation concerns and reinforce expectations that the Federal Reserve (Fed) could raise interest rates later this year.

Gold (XAU/USD) shows moderate gains on Friday, but remains close to the year-to-date lows, at the $3,940 area, with upside attempts capped below the $4,000 psychological level for now.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $55.44 per troy ounce, down 0.17% from the $55.53 it cost on Thursday.

Silver (XAG/USD) trades around $55.50 at the time of writing on Friday, virtually unchanged on the day, but remains on track to post a weekly loss of nearly 7%.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its sideways consolidative price moves for the fourth straight day and trades around the $79.00 mark through the first half of the European session on Friday.