West Texas Intermediate (WTI) crude Oil climbs to its highest level in nearly two weeks on Wednesday as renewed hostilities in the Middle East dent hopes of a near-term US-Iran deal that could reopen the Strait of Hormuz.

Gold (XAU/USD) price slumps over 1% on Wednesday, losing for the second day in the week amid fears that hostilities between the US and Iran may escalate, pushing energy prices higher and the US Dollar as well.

Gold has become the top reserve asset in global central banks’ vaults, surpassing US Treasuries, suggesting that the precious metal is becoming the main choice for monetary authorities seeking protection against geopolitical uncertainty.

United States EIA Crude Oil Stocks Change came in at -7.974M, below expectations (-4M) in May 29

TD Securities’ Ryan McKay notes that Gold is struggling to recover as renewed tariffs and US-Iran tensions fuel an inflationary impulse and push expectations for a Federal Reserve (Fed) hike into early 2027.

West Texas Intermediate (WTI) advances toward $94.00 at the time of writing, up 2.52% on the day, supported by a fresh escalation of geopolitical tensions in the Middle East and growing concerns about global Oil supplies.

Gold (XAU/USD) trades lower on Wednesday as escalating tensions in the Middle East dampen hopes for a near-term US-Iran peace deal. At the time of writing, XAU/USD is trading around $4,455, down nearly 1.85% so far this week.

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.