BNY’s Geoff Yu notes that the U.S.–Iran confrontation and Houthi threats in the Red Sea are sustaining a geopolitical premium in Brent and WTI. Brent has risen toward $88 per barrel, with risks that Strait of Hormuz disruptions further tighten Oil supply.

Gold (XAU/USD) edges higher on Tuesday as buying interest around the $4,000 psychological level supports prices, while traders assess developments in the Middle East and their potential economic fallout. At the time of writing, XAU/USD trades around $4,058, up 1.27% on the day.

Gold price (XAU/USD) is up 1.5% to near $4,067 during the European trading session on Tuesday. The precious metal outperforms as the rally in oil prices has stalled, with investors turning confident that negotiations between the United States (US) and Iran towards peace have resumed.

Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $58.96 per troy ounce, up 4.54% from the $56.40 it cost on Monday.

OCBC’s Sim Moh Siong and Christopher Wong highlight rising geopolitical risks around Middle East supply routes, warning that a deeper conflict could push Oil back above USD100/bbl and revive volatility.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the previous day's late rebound from the $79.50-$79.45 area and trades with a negative bias through the first half of the European session on Tuesday.

ING Commodities Strategists Warren Patterson and Ewa Manthey report Copper prices are supported by tightening physical conditions in China. Yangshan import premiums have surged on scrap shortages and smelter maintenance outages, while Chinese and LME inventories are low.

TradingKey - 골드만삭스 ( GS) 글로벌 원자재 리서치 팀은 최신 보고서를 통해 호르무즈 해협을 통한 원유 및 석유제품 수송이 계속해서 심각한 차질을 빚을 경우 브렌트유 ( UKOIL) 가격이 2026년 4분기에 배럴당 120달러를 넘어설 수 있다고 전망했다. 또한 골드만삭스는 120달러가 현재의 기본 전망치가 아니며, 해협 내 통항 제한 장기화

MUFG’s Michael Wan notes that disruptions in the Strait of Hormuz have shifted more Middle East Oil flows toward the Red Sea and Bab el-Mandeb, increasing vulnerability to regional conflict.

TradingKey - 7월 21일 아시아 세션 기준 금 가격은 ( XAUUSD) 장중 빠른 반등세를 기록하며 당일 1.56% 상승해 최고 4,084.28달러를 기록했다. 기술적 관점에서 최근 금 가격은 4,000달러 선 부근에서 다지기 흐름을 보였으며, 이날 미국과 이란 간의 긴장 완화 기대감에 힘입어 반등하기 시작했다.미-이란 정세 외교적 완화 조짐,

Silver price (XAG/USD) is up over 3% to near $58.20 during the early European trading session on Tuesday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.00 during the early European trading hours on Tuesday. The WTI declines but remains near multi-week highs as traders continue to assess the developments surrounding the US-Iran conflicts.

The Iranian Islamic Revolutionary Guards Corps (IRGC) said that it struck US military targets, including air defence systems in Bahrain and Kuwait, the Guardian reported on Tuesday.

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

Gold (XAU/USD) regains positive traction following the previous day's two-way price moves, though it struggles to capitalize on the move and trades below the $4,050 level during the Asian session on Tuesday.

Silver (XAG/USD) attracts buyers for the third straight day and climbs back above the $57.00 mark during the Asian session on Tuesday.

US forces struck Iranian targets after US President Donald Trump vowed Tehran “will pay” for killing three American soldiers, Bloomberg reported on Monday.

Crude Oil compressed its entire 2026 personality into a single Monday tape.

Gold price edges down some 0.19% on Monday as hostilities between the US and Iran extended, following a short-lived truce that began after both countries agreed to a ceasefire, which was broken nine days ago. At the time of writing, XAU/USD trades at $4,011.

TD Securities’ commodity strategy team highlights that, after a five‑week reduction in Copper longs, speculators have resumed adding net length, supported by firm Chinese premiums, low arrivals and inventory draws on the LME and SHFE.

Gold (XAU/USD) trades in a volatile range on Monday as markets react to conflicting headlines from the Middle East. At the time of writing, XAU/USD trades around $4,010, little changed on the day after climbing to an intra-day high of $4,040.

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.