ING’s Warren Patterson and Ewa Manthey highlight a sharp Gold rally of more than 4%, with prices moving closer to $4,300/oz as optimism grows that a US-Iran agreement and lower energy prices will ease inflation.

Gold (XAU/USD) consolidates its recent gains on Thursday after briefly climbing above $4,300 as the US Dollar (USD) steadies while traders await confirmation of a possible Iran-Oman agreement on the Strait of Hormuz. At the time of writing, XAU/USD trades around $4,270, up 0.53% on the day.

Silver price (XAG/USD) holds onto two-day gains at around $62.00 during the European trading session on Thursday. The white metal trades firmly amid hopes of a further decline in oil prices.

Gold (XAU/USD) consolidates gains after appreciating nearly $200 this week, buoyed by lower US Treasury yields as traders dial down bets of immediate Federal Reserve (Fed) rate hikes.

Silver prices (XAG/USD) broadly unchanged on Thursday, according to FXStreet data. Silver trades at $62.01 per troy ounce, broadly unchanged 0.06% from the $62.05 it cost on Wednesday.

OCBC’s Christopher Wong and Sim Moh Siong highlight a sharp rebound in Gold as easing Middle East tensions weighed on Oil and US Treasury yields, softening the US Dollar.

ING strategists Warren Patterson and Ewa Manthey note Oil prices remain under pressure, with ICE Brent trading below $80/bbl as markets focus on a potential US-Iran deal to reopen flows through the Strait of Hormuz.

West Texas Intermediate (WTI), futures on NYMEX, trades 0.45% lower to near $74 during the early European trading session on Thursday, closer to its three-week low of $73.51 posted the previous day.

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

Gold (XAU/USD) builds on the previous day's blowout rally of over 4% and advances for the fourth straight session, rising to its highest level since June 18 during the Asian session on Thursday.

Yemen’s Iran-backed Houthis said ‌that they had launched a missile attack on a Saudi oil tanker off the coast of the kingdom's Red Sea port city of Yanbu and another missile attack on a Saudi oil tanker in the Gulf of Aden, Reuters reported on Wednesday.

Iran’s Foreign Ministry spokesperson , Esmaeil Baghaei, said that Iran and Oman are close to finalizing a proposed framework for commercial shipping through the Strait of Hormuz, the Guardian reported on Wednesday. 

Gold price (XAU/USD) rises to near $4,255 during the early Asian session on Thursday.

Metals were the biggest earners of the day on Wednesday, with Gold surging more than 4% to trade near $4,247 per troy ounce and Silver rallying almost 5% toward $62.20 amid a softer-than-expected US labor market report, with a slowdown in private hiring.

Silver price surges more than 4%, as the Greenback remains on the back foot due to softer than expected jobs and data, though the fall was capped as business activity in the services sector continued to expand.

Gold (XAU/USD) price surges to its highest level in nearly seven weeks, gaining nearly 3.80% on Wednesday as the Greenback loses ground and US Treasury yields fail to gain traction. The XAU/USD pair trades at $4,232, its highest level since June 18, after bouncing off daily lows of $4,065.

West Texas Intermediate (WTI) Crude Oil remains under pressure on Wednesday but struggles to attract fresh selling as traders await confirmation that commercial shipping through the Strait of Hormuz will resume. At the time of writing, WTI trades around $74 per barrel, hovering near three-week lows.

Silver (XAG/USD) jumps more than 4% on Wednesday as weaker-than-expected US ADP employment data and easing energy-driven inflation prompt traders to scale back expectations for Federal Reserve (Fed) rate hikes. At the time of writing, XAG/USD trades around $62.30, near its highest level in a month.

TradingKey - 현물 금 ( XAUUSD)은 수요일 장중 한때 4,200달러를 돌파했다. 미국 민간 부문 고용의 급격한 둔화를 소화하는 한편, 시장은 호르무즈 해협의 해상 분쟁 완화 기대감에도 주목했으며, 이 두 가지 요인이 귀금속 시장의 단기 변동성을 증폭시켰다.ADP 데이터에 따르면 정부 부문을 제외한 미국의 7월 민간 부문 고용은 계절 조정 기

BNY’s Geoff Yu reports Oil prices rose after the Houthis claimed a missile strike on a Saudi tanker near Yanbu, highlighting risks to alternative export routes while Strait of Hormuz disruptions persist.

ING’s Warren Patterson and Ewa Manthey highlight that Copper has surged above $14,000 per tonne on the LME, driven by tightening physical conditions and strong prompt demand.

Rabobank’s Global Daily notes Brent futures fell to around $79 as reports suggested the US, Iran and Oman are close to a temporary deal to reopen the Strait of Hormuz.

Gold (XAU/USD) climbs to a one-month high on Wednesday as renewed optimism over the reopening of the Strait of Hormuz sends Oil prices lower. At the time of writing, XAU/USD trades around $4,155, up nearly 1.90% on the day.

West Texas Intermediate (WTI) trades around $75.50 on Wednesday at the time of writing, up 1.56% on the day, as investors take advantage of a technical rebound following the more than 5% decline recorded in the previous day.

Gold (XAU/USD) has accelerated its recovery on Wednesday, favoured by a softer US Dollar as lower Oil prices and downbeat US macroeconomic data cooled market expectations of Federal Reserve (Fed) rate hikes on Tuesday.

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $61.52 per troy ounce, up 2.87% from the $59.81 it cost on Tuesday.

ING analysts Warren Patterson and Ewa Manthey note that Brent has dropped below $80 per barrel as markets price in a potential short-term US-Iran deal that could reopen the Strait of Hormuz.

Silver (XAG/USD) builds on the previous day's modest gains and attracts strong follow-through buying for the second straight day on Wednesday. The positive momentum lifts the white metal to the $62.00 neighborhood – the highest level since July 7 – during the early European session.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $74.50 during the early European trading hours on Wednesday. WTI declines on mixed US-Iran messages.

Michael Wan at MUFG notes Brent has dropped below US$80 as hopes rise for a deal to reopen the Strait of Hormuz.