Rabobank’s Michael Every highlights that escalating US–Iran tensions and potential military action could have far‑reaching consequences for Oil markets and broader commodities.

TD Securities commodity strategists see renewed upside in Gold prices. They argue that easier Fed policy, persistent core PCE near 3% and ongoing debasement dynamics could drive Gold toward fresh records around $5,700/oz.

Gold (XAU/USD) trades with a mild upside bias on Thursday but remains confined within this week’s trading range as markets stay cautious ahead of key geopolitical developments. At the time of writing, XAU/USD trades at $5,174 as bulls struggle to sustain gains above the $5,200 level.

ING’s Warren Patterson and Ewa Manthey say the outcome of US-Iran nuclear talks will be crucial for Oil, with a sizeable risk premium at stake. They note that ICE Brent timespreads signal better supply, while fundamentals and OPEC+ decisions could push prices lower if tensions ease.

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $87.50 per troy ounce, down 1.00% from the $88.38 it cost on Wednesday.

Deutsche Bank’s Early Morning Reid notes that risk sentiment improved across equities and credit, but rising US Treasury yields and reduced odds of early Fed cuts weigh on Gold. The 10‑year Treasury yield rose to 4.05% as markets priced out H1 easing.

West Texas Intermediate (WTI) Oil price remains steady after two days of losses, trading around $65.40 per barrel during the European hours on Thursday. Crude Oil prices hold steady amid ongoing United States (US)-Iran tensions that threaten potential supply disruptions.

Silver price (XAG/USD) trades in a tight range around $89.00 during the European trading session on Thursday. The white metal consolidates ahead of nuclear talks between the United States (US) and Iran in Geneva later in the day.

Gold prices rose in India on Thursday, according to data compiled by FXStreet.

Gold (XAU/USD) attracts some dip-buyers following the previous day's late pullback and climbs back closer to the $5,200 mark during the Asian session on Thursday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.60 during the Asian trading hours on Thursday. The WTI price edges higher amid ongoing tensions between the US and Iran.

TradingKey - 8:00 PM ET, Gold prices (XAUUSD) closed at $5,190 per ounce, attempting to break through $5,200, influenced by JPMorgan Chase (JPM) raising its long-term gold price forecast. On Wednesday

Gold prices rise over 1% on Wednesday amid uncertainty on US trade policies and expectations that the Federal Reserve (Fed) will ease policy through the rest of the year. At the time of writing, XAU/USD trades at $5,204 after bouncing off its worst levels at $5,121.

West Texas Intermediate (WTI) trades under pressure on Wednesday as a larger-than-expected US crude inventory build and expectations of higher OPEC+ output fuel renewed oversupply worries. At the time of writing, the US benchmark is trading around $65.45, down nearly 1.25%.

United States EIA Crude Oil Stocks Change climbed from previous -9.014M to 15.989M in February 20

Silver (XAG/USD) accelerates on Wednesday and trades around $90.70 at the time of writing, up 3.90% on the day. The white metal benefits from an environment marked by rising trade and geopolitical uncertainties, which revives demand for safe-haven assets.

ING analysts Warren Patterson and Ewa Manthey report that LME copper has moved back above $13,000/t as Chinese buyers return from Lunar New Year, with Yangshan premiums hitting a two‑month high.

Gold (XAU/USD) struggles for direction on Wednesday, easing slightly after trimming part of the previous day’s losses. Although the downside appears limited, as fresh uncertainty over US trade policy and lingering geopolitical tensions in the Middle East continue to underpin safe-haven demand.

Gold price (XAU/USD) trades 0.6% higher to near $5,200 during the European trading session on Wednesday.

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $90.96 per troy ounce, up 4.19% from the $87.30 it cost on Tuesday.

West Texas Intermediate (WTI) Oil price loses ground for the second successive session, trading around $65.90 per barrel during the European hours on Wednesday.

ING’s Warren Patterson and Ewa Manthey note that ICE Brent fell over 1% as hopes grow for a US–Iran diplomatic solution, even as US military assets build up in the Middle East.

Rabobank's Senior Global Strategist Michael Every underlines that escalating geopolitical tensions could drive significant volatility in energy markets. He points to rising frictions involving Iran, Israel and the US, and suggests conflict timing remains uncertain.

Gold prices rose in India on Wednesday, according to data compiled by FXStreet.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.05 during the early Asian trading hours on Wednesday. The WTI price declines amid a significant build in US crude stockpiles.

Gold price (XAU/USD) tumbles to near $5,140, snapping the four-day winning streak during the early Asian session on Wednesday. The precious metal loses momentum amid some profit-taking and a stronger US Dollar (USD).

United States API Weekly Crude Oil Stock increased to 11.4M in February 20 from previous -0.609M

Gold price retreats from three-week high of $5,249 on Tuesday as the Greenback pares some of Monday’s losses on uncertainty about trade policies and hawkish comments by some Federal Reserve (Fed) officials. At the time of writing, XAU/USD trades at $5,160, down 1.24%.

West Texas Intermediate (WTI) US Oil trades around $65.95 on Tuesday at the time of writing, down 0.68% on the session, after having reached a six-month high of $67.23 on Monday.

Spot Silver is pulling back on Tuesday after Monday's explosive rally, trading near $87.87. The weekend tariff escalation, which came just hours after the US Supreme Court struck down broader emergency tariffs, fuelled a flight into precious metals.