UOB Global Economics & Markets Research highlights that WTI and Brent futures rebounded modestly on Friday but still logged their largest weekly declines since April 2026.

West Texas Intermediate (WTI), futures on NYMEX, is up 5.2% to near $96.60 in the Asian trade at the start of the week. The Oil price attracts significant bids as expectations that the United States (US) and Iran will reach a permanent ceasefire in the near term have faded.

Gold (XAU/USD) kicks off the new week on a weaker note and remains on the defensive below the $4,700 mark through the Asian session amid the emergence of some US Dollar (USD) buying.

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

China continued to lead Asia’s push into Gold buying via Exchange-Traded Funds (ETFs) in April, with Hong Kong registering its highest inflows ever, as Gold prices stabilized after a major pullback in March.

West Texas Intermediate (WTI) oil price advances after registering nearly 3% losses in the previous trading day, hovering around $95.70 during the Asian hours on Monday.

US President Donald Trump and Iran rejected each other’s latest peace proposals to bring an end to the war in the Middle East as the two sides struggle to maintain a fragile ceasefire, Bloomberg reported on Sunday.

Indian investors continue to pile up their bets on Gold via Exchange Traded Funds (ETFs), contributing to the rebound in demand for the precious metal as spot prices stabilize after March’s sharp decline.

WTI, the US crude oil benchmark, falls some 2.49%, poised to end the week with losses of over 7.39%, amid growing speculation that the US and Iran will reach an agreement to end the conflict.

Gold (XAU/USD) rises some 0.75% on Friday as financial markets remain optimistic about a possible end to the Middle East conflict, which could potentially drive Oil prices lower and ease inflationary pressures.

United States Baker Hughes US Oil Rig Count came in at 410, above expectations (409)

Silver (XAG/USD) trades around $80.70 on Friday at the time of writing, up 2.98% on the day, supported by a weaker US Dollar (USD) and persistent demand for safe-haven assets amid heightened geopolitical tensions.

Inflows returned to global Gold ETFs in April, with funds from the United Kingdom (UK) leading the surge, as the price of the precious metal stabilized after March’s sharp decline.   

Commerzbank’s Barbara Lambrecht reports that China’s central bank (PBoC) used a temporary Gold price dip in April to extend its buying streak to 18 months, with the largest addition since December 2024.

ING analysts Ewa Manthey and Warren Patterson note that ICE Brent and NYMEX WTI have rebounded after three sessions of losses as renewed US‑Iran tensions in the Strait of Hormuz lift the risk premium.

West Texas Intermediate (WTI) US Oil declines to around $92.00 on Friday at the time of writing, down 2.76% on the day, as markets reduce the geopolitical risk premium in the Middle East.

Gold (XAU/USD) holds firm on Friday but lacks upside momentum as traders refrain from placing aggressive directional bets ahead of the US Employment data while keeping a close eye on geopolitical developments in the Middle East.

Commerzbank strategists note Copper has outperformed other base metals, helped by improved macro sentiment around Hormuz and ongoing mine issues. Chilean ore output fell 9% year‑on‑year in March despite a monthly rebound, while Indonesia’s Grasberg mine is running at only 40–50% capacity.

ING strategists Ewa Manthey and Warren Patterson report that Gold is edging higher, supported by ongoing central bank demand and geopolitical risks.

Silver (XAG/USD) extends its bullish momentum on Friday, trading around $80.85 at the time of writing, up 3.15% on the day.

Gold (XAU/USD) holds gains above $4,700 on Friday, supported by a weaker US Dollar, despite the cautious mood in financial markets due to recent fire exchange between the US and Iran and doubts about the fate of a fragile ceasefire.

Deutsche Bank strategists note Brent Oil has rebounded above $100/bbl as markets reassess risks around the US-Iran ceasefire. Brent briefly dipped to $96/bbl but closed just over $100/bbl and is quoted near $101.64/bbl early Friday.

Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $80.29 per troy ounce, up 2.44% from the $78.38 it cost on Thursday.

Rabobank’s Senior Economist Maartje Wijffelaars highlights extreme volatility in Oil, with Brent dropping to $93 per barrel before spiking above $102 as shifting war headlines from Washington drive sentiment.

West Texas Intermediate (WTI), futures on NYMEX, is down 2.5% to near $92.20 during the European trading session on Friday.

Silver price (XAG/USD) is up 2.6% to near $80.50 during the early European trading session on Friday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $92.45 during the early European trading hours on Friday. The WTI price attracts some sellers on optimism over a possible deal to end the war with Iran. 

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

Gold (XAU/USD) attracts fresh buyers following the previous day's pullback from over a two-week high and advances to the $4,732-$4,733 area during the Asian session on Friday. Despite renewed hostilities in the Strait of Hormuz, investors seem hopeful over a potential US-Iran peace deal.

Silver (XAG/USD) attracts fresh buyers following an Asian session dip to sub-$78.00 levels and stalls the previous day's late pullback from a nearly three-week high. The white metal climbs back above the $80.00 psychological mark in the last hour and remains on track to register strong weekly gains.