Gold (XAU/USD) resumed its near-term downtrend on Wednesday, with bears pushing against the intra-week lows at the $4,450 area.

BNY’s Bob Savage notes that WTI and Brent prices are rising for a third day as United States (US)-Iran tensions escalate, with missile and drone attacks in the Gulf region pushing benchmarks toward and above USD 90.

Silver (XAG/USD) trades around $74.50 on Wednesday at the time of writing, down 0.88% on the day. The white metal is facing selling pressure as the US Dollar (USD) continues to recover, supported by escalating geopolitical tensions in the Middle East.

Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $74.30 per troy ounce, down 1.10% from the $75.13 it cost on Tuesday.

Crude prices rise for their third day in a row on Wednesday, as fresh hostilities between the US and Iran cast further doubt about a fragile ceasefire.

Silver price (XAG/USD) is down 0.6% to near $74.60 during the European trading session on Wednesday. The precious metal faces selling pressure as oil prices gain for the third straight trading day amid renewed tensions between the United States (US) and Iran.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $92.90 during the early European trading hours on Wednesday. WTI price rises amid growing doubts over the possibility of a peace deal between the United States (US) and Iran.

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

Gold (XAU/USD) extends the previous day's late pullback from the vicinity of the $4,550 level and attracts some follow-through selling during the Asian session on Wednesday.

The United States Central Command (CENTCOM) said on Tuesday that it had intercepted and defeated a series of Iranian missile and drone attacks targeting regional neighbors, including Kuwait and Bahrain, while also carrying out self-defence strikes on Iran’s Qeshm Island, ABC News reported.

Gold price (XAU/USD) tumbles to around $4,465 during the early Asian session on Wednesday. The precious metal extends the decline amid uncertainty surrounding the peace deal between the United States (US) and Iran. 

United States API Weekly Crude Oil Stock below forecasts (-3.6M) in May 29: Actual (-6.75M)

Scotiabank's strategists Shaun Osborne and Eric Theoret describe Gold trading in a tight consolidation around $4500/oz, forming the lower bound of a descending triangle pattern.

Gold (XAU/USD) advances a modest 0.16% on Tuesday as risk appetite improves after Israel and Hezbollah halted hostilities due to the intervention of US President Donald Trump. The XAU/USD pair trades near the $4,500 mark after bouncing off daily lows of $4,463.

DBS Group Research strategist Eugene Leow warns that low Oil inventories, especially in the United States, could keep Oil prices and global yields supported even if a US-Iran deal reopens the Strait of Hormuz.

ING analysts Warren Patterson and Ewa Manthey note that Oil prices remain highly sensitive to shifting US–Iran negotiation headlines, with recent breakdowns in talks boosting prices. They highlight additional risks from Iranian threats in the Bab el‑Mandeb and Russia’s jet fuel export ban.

West Texas Intermediate (WTI) edges lower on Tuesday, trading around $90.15 at the time of writing, down 0.89% on the day.

Gold (XAU/USD) moves higher on Tuesday but remains within a two-week range as traders track rapidly changing headlines from the Middle East. At the time of writing, XAU/USD trades around $4,530, up nearly 1% on the day.

ING’s Warren Patterson and Ewa Manthey report that EU Natural gas storage has risen above 40% but remains well below the five-year average. With peace talks stalling and LNG disruptions from the Middle East, they see rising risks of tighter supply into winter.

TD Securities strategists have cut their Gold forecasts for the next two quarters as higher inflation expectations from supply shocks lift yields and keep the Dollar firm, with markets even pricing a potential Fed hike in late 2026.

Silver price (XAG/USD) trades 1.85% higher to near $76.30 during the European trading session on Tuesday. The white metal gains as oil prices have corrected, while uncertainty surrounding the United States (US)-Iran remains intact.

Gold (XAU/USD) bounces up on Tuesday, retracing Monday's losses and returning to levels beyond $4,500.

Rabobank’s Senior Macro Strategist Bas van Geffen highlights that Brent futures near the mid-$90s per barrel, down from a recent peak of $108, still reflect only a relatively optimistic scenario for the Iran conflict.

Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $76.37 per troy ounce, up 2.00% from the $74.87 it cost on Monday.

Danske Research Team notes that Brent crude briefly traded above USD 97 before easing below USD 95 as Iran–US ceasefire negotiations fluctuated. They highlight reports that OPEC+ may modestly lift July output, but see limited price impact unless exports rise.

Gold is navigating a challenging environment as tight global energy markets and quickly shifting central bank expectations alter investor sentiment.

Deutsche Bank’s Jim Reid and colleagues outline a baseline scenario in which a US-Iran agreement this month reopens the Strait of Hormuz, allowing Brent Oil to retreat toward $86 per barrel in Q4 2026.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $89.35 during the early European trading hours on Tuesday.

MUFG’s Michael Wan notes that negotiations around the US-Iran conflict and developments in the Strait of Hormuz remain a key driver for global markets. He highlights a sharp Brent crude spike toward $97 before a partial pullback, as well as fragile ceasefire dynamics.

OCBC's strategists Sim Moh Siong and Christopher Wong turn more cautious on Gold in the near term, cutting its price forecasts as elevated Oil prices, higher yields and a more hawkish Federal Reserve (Fed) have weakened Gold’s backdrop.