Commerzbank’s Henry Hao and Moses Lim note that progress on reopening the Strait of Hormuz has driven Brent and WTI sharply lower, easing inflation risk premia in global bond markets.

Gold price (XAU/USD) clings to Wednesday’s losses near $3,985 during the European trading session on Thursday. The yellow metal remains under severe pressure as traders seem confident that the next monetary policy move by the Federal Reserve (Fed) will be on the upside.

Gold (XAU/USD) consolidates modest losses on Thursday as traders reduce exposure ahead of the US Personal Consumption Expenditures (PCE) Price Index report, due at 12:30 GMT. At the time of writing, XAU/USD trades around $3,983, hovering near the more than seven-month low touched on Wednesday.

Oman’s Foreign Ministry says during the European trading session on Thursday that future arrangements for the Strait of Hormuz, a critical passage to almost 20% of global energy supply, do not entail transit tolls, state media agency reported.

Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $57.61 per troy ounce, up 0.31% from the $57.43 it cost on Wednesday.

West Texas Intermediate (WTI) oil price loses ground for the fourth consecutive day, trading around $69.20 per barrel during European hours on Thursday. Crude oil prices are facing strong headwinds as market expectations point to a significant surge in supply from the Middle East.

Societe Generale analysts note that Gold has broken below its 200-day moving average and the March trough, triggering an accelerated decline. Prices are drifting toward last October’s $3,930–3,885 support zone, with a potential rebound hinging on holding this area.

BNY’s Geoff Yu notes that Gold has broken below $4,000/ounce after a weak spell since mid-March, as rising global front-end yields and fading debasement fears pressure precious metals.

Danske Research Team notes global equities ended slightly lower, with energy and materials dragging, but sector dispersion remained wide. Lower Oil prices are seen as a relief for consumers, while strong Micron results reinforced confidence in technology earnings.

West Texas Intermediate (WTI), futures on NYMEX, is down 0.7% to near $69.00 during the late Asian trading session on Thursday.

Gold (XAU/USD) meets with a fresh supply during the Asian session on Thursday and slides back to the lowest level since November 2025, set the previous day.

The Israeli defence minister, Israel Katz, said that the Israeli military would not withdraw from southern Lebanon despite pressure from the United States (US) as fighting in Lebanon continues to be an obstacle to permanent peace, the Guardian reported on Thursday.

Gold price (XAU/USD) tumbles to around $3,995 during the early Asian session on Thursday. The precious metal extends the decline to below the $4,000 psychological level for the first time since November 2025 on the prospect of higher interest rates and a stronger US Dollar (USD).

West Texas Intermediate (WTI) crude Oil extends its decline on Wednesday, falling more than 3% as stranded crude cargoes in the Strait of Hormuz gradually return to the market following an interim peace agreement between the United States (US) and Iran.

Gold (XAU/USD) price collapses by over 3% on Wednesday during the North American session amid broad US Dollar strength, despite US Treasury yields tumble on speculation that the reopening of the Strait of Hormuz could ease inflationary pressures.

Silver (XAG/USD) extends its correction on Wednesday and trades around $58.75 at the time of writing, down 4.62% on the day after hitting a fresh low not seen since December 2025.

United States EIA Crude Oil Stocks Change came in at -6.088M, below expectations (-5.1M) in June 19

West Texas Intermediate (WTI) US Oil extends its sharp decline on Wednesday, trading around $69.70, down 4.40% on the day at the time of writing and hitting its lowest level since March 2.

TD Securities’ Ryan McKay and Bart Melek highlight ongoing selling pressure in WTI Crude as CTA liquidation nears completion while high crude flows through the Strait of Hormuz keep sentiment bearish.

ING’s Commodities Strategist Ewa Manthey notes that Gold has sold off sharply after record highs, pressured by higher Treasury yields, a stronger Dollar and weaker ETF demand.

Gold (XAU/USD) falls on Wednesday, revisiting the seven-month low touched earlier this month as hawkish Federal Reserve (Fed) expectations and the resulting strength in the US Dollar (USD) keep the precious metal under pressure.

Gold (XAU/USD) extends losses for the second consecutive day on Wednesday as the US Dollar Index (DXY) surges to 13-month highs near 102.00. The precious metal has breached the 4,100 line and is heading to retest Year-to-date lows, at $4,023, and probably also the $4,000 psychological level.

Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $61.15 per troy ounce, down 0.72% from the $61.60 it cost on Tuesday.

ING analysts Warren Patterson and Ewa Manthey note that Oil prices are grinding lower as flows from the Persian Gulf gradually recover, with ICE Brent down over 1%. They argue the sell-off looks overdone given a still-tightening market and limited recovery in Strait of Hormuz volumes.

Crude Oil prices keep trending lower, with the US benchmark West Texas Intermediate (WTI) barrel extending its decline below the $72.00 line on Wednesday, and reaching its lowest level since the UA and Israel attacked Iran in late February.

ING analysts Warren Patterson and Ewa Manthey note that Gold has fallen toward $4,000 per ounce alongside a broader market sell-off, pressured by a stronger US Dollar and expectations of higher-for-longer Federal Reserve policy. Silver slumped 5%.

Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani said that the country would resume normal liquefied natural gas production “within a few weeks”, the Financial Times reported on Wednesday.

Silver price (XAG/USD) posts a fresh over six-month low at $60.74 during the Asian trading session on Wednesday. The white metal faces selling pressure as traders seem confident that the Federal Reserve (Fed) will deliver at least two interest rate cuts this year.

West Texas Intermediate (WTI) oil price continues its losing streak for the third successive day, trading around $72.50 per barrel during the Asian hours on Wednesday. WTI oil price recovers after hitting a three-month low of $71.94, but stays in negative territory.

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