West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $89.35 during the early European trading hours on Tuesday.

MUFG’s Michael Wan notes that negotiations around the US-Iran conflict and developments in the Strait of Hormuz remain a key driver for global markets. He highlights a sharp Brent crude spike toward $97 before a partial pullback, as well as fragile ceasefire dynamics.

OCBC's strategists Sim Moh Siong and Christopher Wong turn more cautious on Gold in the near term, cutting its price forecasts as elevated Oil prices, higher yields and a more hawkish Federal Reserve (Fed) have weakened Gold’s backdrop.

Gold (XAU/USD) edges higher during the Asian session on Tuesday, though it lacks bullish conviction and currently trades just above the $4,500 psychological mark.

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

Silver (XAG/USD) attracts some buyers during the Asian session on Tuesday and currently trades around the $75.70-$75.75 zone, up over 1% for the day. The white metal, however, remains confined in a multi-day-old range, warranting some caution for aggressive bullish traders.

US President Donald Trump said that he will have an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz "over the next week,” ABC News reported on Monday.

Crude Oil spent all of May bleeding out a war premium on the assumption that a US-Iran deal was a formality, and on Monday the market got a blunt reminder that nobody actually signed anything.

Gold price retreats by more than 1% on Monday as the market mood shifts to neutral amid developments in the Middle East that threaten to end the ceasefire between the US and Iran. The XAU/USD trades at $4,490 after reaching a daily high of $4,546.

TD Securities’ Senior Commodity Strategist Ryan McKay argues that Oil fundamentals will tighten materially even if a comprehensive deal fully reopens the Strait of Hormuz.

Silver (XAG/USD) trades lower around $74.60 per troy ounce on Monday at the time of writing, down 0.92% on the day.

TD Securities’ Ryan McKay and Bart Melek note that Gold has lagged the broader commodity basket, especially Oil and base metals, as geopolitical tensions between the US and Iran persist without a deal.

Gold (XAU/USD) kicks off the week with a negative bias as slow progress toward a US-Iran ceasefire extension deal and fresh attacks in the Middle East keep buyers cautious. At the time of writing, XAU/USD is trading around $4,500 after hitting a two-week high near $4,595 on Friday.

Gold (XAU/USD) trades lower on Monday, reverting Friday’s gains and returning to the $4,500 atrea following rejection at the $4,590 resistance area.

Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $75.95 per troy ounce, up 0.89% from the $75.28 it cost on Friday.

Crude prices are trading higher on Monday, with the barrel of the US benchmark West Texas Intermediate (WTI) changing hands at $89.40 at the time of writing, nearly $3 higher than last week’s closing price.

Societe Generale’s Michael Haigh and Jeremy Sellem argue that the proposed U.S–Iran ceasefire framework would only gradually restore flows through the Strait of Hormuz, keeping Oil markets tight.

Silver price (XAG/USD) is up 0.5% to near $75.75 during the European trading session on Monday. The white metal trades higher amid hopes that the United States (US) and Iran will reach a permanent peace deal soon.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $88.45 during the early European trading hours on Monday. WTI price attracts some buyers following the Kuwaiti military reports of a missile and drone attack.

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

Kuwait's armed forces said that the country's air defense systems were intercepting hostile missile and drone attacks after air raid sirens sounded and emergency alerts were issued nationwide, the Guardian reported on Monday.

Gold (XAU/USD) kicks off the new week on a subdued note and remains on the back foot below a two-week top, around the $4,600 neighborhood, touched on Friday.

Gold price (XAU/USD) declines to near $4,535, snapping the two-day winning streak during the early Asian session on Monday. The precious metal loses ground amid the lack of progress in the US-Iran peace negotiations.

Iranian Foreign Minister Abbas Araghchi said that talks and message exchanges with the United States (US) were onongoing buttressed that no assessment of negotiations could be made until a clear outcome was reached, Reuters reported on Sunday.

Silver price retreats by 0.16% during the session, consolidating around the $75.00-$76.00 area, virtually unchanged, near the 50-day Simple Moving Average (SMA) at $75.70.

Gold (XAU/USD) price advanced more than 1.50% on Friday amid news that Iran and the US are close to signing a deal aimed at extending the ceasefire for 60 days to allow negotiations on Iran’s nuclear program. At the time of writing, XAU/USD trades at $4,563, after bouncing off daily lows of $4,489.

United States Baker Hughes US Oil Rig Count increased to 429 from previous 425

Silver (XAG/USD) trades flat on Friday, failing to capitalize on improving market sentiment surrounding a potential US-Iran peace deal even as the US Dollar (USD) slides to a two-week low. At the time of writing, XAG/USD trades around $75.60 and is on track to end the week virtually unchanged.

DBS Group Research’s Philip Wee notes that Brent and WTI have fallen sharply, as markets anticipate abundant supply from the Gulf.

Gold (XAU/USD) extends its rebound on Friday as traders assess the prospects of a potential US-Iran deal. At the time of writing, XAU/USD trades around $4,530 after recovering from a two-month low of $4,366 touched on Thursday.