Gold (XAU/USD) trims some of its earlier losses on Monday but remains down nearly 3% after falling to $4,098, its lowest level since November and near the 200-day Simple Moving Average (SMA).

WTI Crude Oil fell roughly 9% on Monday, falling back below $100/barrel and testing $90.00 after tracing one of the widest intraday ranges in modern oil market history.

Silver (XAG/USD) stages a rebound on Monday after briefly slipping to year-to-date lows earlier in the Asian trading session, as traders digest conflicting headlines surrounding geopolitical tensions linked to the US-Israel war with Iran.

TD Securities’ Senior Commodity Strategist Daniel Ghali argues that Gold’s bull market has been driven by successive capital pools, from central banks to institutional and retail investors, effectively mimicking a carry trade.

Gold (XAU/USD) rebounds from year-to-date lows on Monday as bargain hunting emerges after a steep sell-off, with the metal finding support after news that US President Donald Trump postponed planned strikes against Iran's power plants and energy infrastructure.

West Texas Intermediate (WTI) US Oil trades around $92.20 on Monday at the time of writing, down 5.45% on the day, after falling sharply from around $100 to a daily low of $83.99, its lowest level in more than a week, amid a relative easing of geopolitical tensions.

Silver price (XAG/USD) bounces back strongly to near $68.20 during the European trading session on Monday.

OCBC strategists Sim Moh Siong and Christopher Wong report that Gold has come under pressure as rising global yields, higher real rates and renewed inflation concerns reduce expectations for near-term Fed cuts. ETF outflows and stress-driven liquidation are adding to downside.

Silver prices (XAG/USD) fell on Monday, according to FXStreet data. Silver trades at $64.58 per troy ounce, down 4.82% from the $67.85 it cost on Friday.

Rabobank strategists Michael Every, Florence Schmit and Joe DeLaura note that Brent crude has surged as Middle East conflict intensifies and the Strait of Hormuz remains effectively closed.

Deutsche Bank economists argue that the US is relatively shielded on growth from the current energy shock due to its net energy exporter status, but still faces a notable inflation impulse.

MUFG’s Senior Currency Analyst Lee Hardman reports that Gold and other precious metals are under pressure despite heightened geopolitical risks.

Societe Generale economists argue that Oil demand remains structurally inelastic despite sharp price gains. They estimate short‑run crude demand elasticity at –0.024, implying around 1.2 mb/d of lost demand so far, and warn that a move toward $150/bbl could destroy up to 2.7 mb/d of consumption.

Here is what you need to know on Monday, March 23:

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $99.10 during the early European trading hours on Monday. The WTI price jumps amid an escalating conflict in the Middle East.

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

Gold (XAU/USD) adds to its recent heavy losses registered over the past three weeks or so and attracts some follow-through selling for the fourth consecutive day on Monday.

West Texas Intermediate (WTI) crude eases from intraday highs but remains elevated near $98.10 per barrel during Monday’s Asian session, supported by persistent Middle East supply concerns.

Saudi Aramco, the world's top oil exporter, cut crude supply to Asian buyers for a second month ‌in April after the US-Israeli war with Iran disrupted trade via the Strait of Hormuz, Reuters reported on Monday.

The International Energy Agency (IEA) Chief Fatih Birol said on Monday that he is discussing with governments across globe, if necessary there will be more releases of oil stocks. 

Silver (XAG/USD) falters after a modest Asian session bounce to the $69.60 area and trades with a negative bias for the fifth straight day on Monday. The white metal is currently placed just below mid-$67.00s, down 0.80% for the day, and seems vulnerable near a six-week low, touched last Thursday.

Iran’s Islamic Revolutionary Guard Corps (IRGC) said that it will completely shut the strait if US President Donald Trump proceeds with his threats to target Iranian energy facilities, the Guardian reported on Monday.

Gold price (XAU/USD) tumbles to around $4,460 during the early Asian trading hours on Monday. The precious metal remains under selling pressure amid a stronger US Dollar (USD), rising bond yields and concerns about inflation linked to energy prices. 

West Texas Intermediate (WTI) – the US oil benchmark – opened Monday with a bang, extending Friday’s 3.5% advance to briefly regain the $100 level.

Gold (XAU/USD) price extended on Friday its losses for the eighth straight day, poised to end the week down by more than 8.50% as Oil prices continued to rally, boosting the haven appeal of the Greenback.

United States Baker Hughes US Oil Rig Count: 414 vs 412

OCBC’s Sim Moh Siong highlights that crude briefly surged toward USD120/bbl on Iranian attacks before easing as US officials signalled supply support and Israel suggested faster de-escalation.

OCBC’s Christopher Wong reports that Gold has come under pressure as rising global yields and renewed inflation risks reduce expectations for near-term rate cuts, prompting ETF outflows and stress-driven liquidation.

Gold (XAU/USD) struggles to gain traction on Friday following a sharp two-day decline that pushed prices to their lowest level since early February, near the $4,500 mark.

Silver price (XAG/USD) trades in a tight range around $72.80 during the European trading session on Friday. The white metal holds onto Thursday’s recovery move, which was driven by weakness in the US Dollar (USD).