Gold (XAU/USD) price edges up by over 1.30% on Monday amid thin trading due to the US Memorial Day holiday, yet sentiment remains positive as US equity futures are rising to new all-time highs, while the US Dollar dives. The XAU/USD pair trades at $4,570 after bouncing off daily lows of $4,519.

According to Nikkei, the US and Iran agreed to extend the ceasefire from early April for 60 days, the newspaper reported, citing a source.

Scotiabank’s Global FX Strategy team highlights that global benchmark Oil prices are lower, with WTI nearing the psychologically important $90/bbl level and Brent slipping toward the mid-$90s after briefly trading above $100/bbl.

Scotiabank’s Global FX Strategy team observes renewed strength in non-energy commodities such as copper, while emphasizing that Gold remains anchored by the technically important $4500/oz level.

Gold (XAU/USD) rebounds sharply on Monday as hopes for a US-Iran deal to end the war in the Middle East and reopen the Strait of Hormuz weigh on the US Dollar (USD) and Oil prices. At the time of writing, XAU/USD is trading around $4,556, up 1.0% on the day.

Oil prices gapped lower at Monday’s opening times, accelerating the decline observed in the last half of the previous week.

Gold (XAU/USD) is trading higher on Monday, favoured by a moderate risk appetite amid recent comments from the US and Iran hinting at progress in peace negotiations.

Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $77.80 per troy ounce, up 3.02% from the $75.52 it cost on Friday.

Rabobank’s RaboResearch Global Economics & Markets team notes that Brent Oil has fallen 5% again despite ongoing Middle East tensions, underscoring a pattern of repeated price pullbacks.

West Texas Intermediate (WTI), futures on NYMEX, are down 6% to near $90 in the European trading session on Monday, the lowest level seen in over two weeks.

Gold (XAU/USD) builds on its modest bullish opening gap and climbs to a four-day high, around the $4,580 region, during the Asian session on Monday.

West Texas Intermediate (WTI) oil price continues its losing streak for the fourth successive day, declining by nearly 5.5% and trading around $90.80 per barrel during the Asian hours on Monday. Crude oil prices drop on easing supply fears due to rising optimism over a potential US-Iran agreement.

Gold price (XAU/USD) rises to near $4,570 during the early Asian trading hours on Monday. The precious metal attracts some buyers on weaker US Dollar (USD) after the reports that the United States (US) and Iran are closing in on a deal that would reopen the Strait of Hormuz.

West Texas Intermediate (WTI) – the US oil benchmark – has witnessed a steep bearish opening gap on Monday, now losing nearly 5%, on its way to surrendering the $90 threshold.

Gold price edges lower during the day as the Greenback recovers some ground amid doubts that the US and Iran could reach a deal to end the conflict, and traders are pricing in a Federal Reserve (Fed) rate hike by the end of the year. At the time of writing, XAU/USD trades at $4,518, down 0.50%.

United States Baker Hughes US Oil Rig Count registered at 425 above expectations (416)

Commerzbank reports Copper has fallen about 5% from mid‑May highs, mainly on higher risk aversion from rising Oil prices. Yet China’s April Copper output dipped 4.5% month-on-month and mining news from Chile and Indonesia point to weaker supply growth.

Gold (XAU/USD) consolidates on Friday, remaining confined within this week’s trading range as investors cautiously monitor ongoing diplomatic efforts between the United States and Iran to reach a deal to end the war in the Middle East.

Commerzbank’s Thu Lan Nguyen notes that Gold briefly slipped below USD 4,500 per ounce as markets priced a prolonged Iran conflict and sharply higher US rate expectations.

Crude Oil prices are hovering near 10-day lows, with upside attempts limited below the $98.00 line on Friday, on track to a nearly 4% weekly decline.

Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $75.93 per troy ounce, down 0.96% from the $76.67 it cost on Thursday.

Silver price (XAG/USD) faces selling pressure near $76.00 during the European trading session on Friday. The white metal trades lower due to uncertainty over whether the United States (US) and Iran will reach a deal.

ING analysts Warren Patterson and Ewa Manthey say Oil traders remain focused on US-Iran negotiations, with uncertainty over a potential deal and issues such as uranium enrichment and the Strait of Hormuz toll proposal driving volatility.

OCBC’s Christopher Wong sees Gold showing tentative stabilisation as softer UST yields and lower Oil prices offer support. However, bullion remains trapped between lower-yield support and the risk that any renewed crude spike revives inflation and Fed tightening concerns.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – remains on the back foot for the third consecutive day and trades around mid-$96.00s during the Asian session on Friday.

Gold (XAU/USD) attracts some sellers following the previous day's two-way price moves, though it manages to hold above the $4,500 psychological mark through the Asian session on Friday.

Silver (XAG/USD) struggle to make it through the 23.6% Fibonacci retracement level of the recent fall from the monthly swing high and attracts some sellers during the Asian session on Friday.

West Texas Intermediate (WTI) oil price extends its losses for the third successive day, trading around $96.80 per barrel during the Asian hours on Friday. Crude oil prices decline as supply concerns ease amid growing optimism that the United States (US) and Iran could eventually reach an agreement.

Senior Iranian officials said that no deal has been reached with the United States (US), but gaps have been narrowed, Reuters reported on Friday.