Gold (XAU/USD) trims some intraday losses on Monday after coming under heavy selling pressure at the start of the week. The mild recovery comes as the US Dollar (USD) and Treasury yields ease somewhat from recent highs as markets digest shifting macro and geopolitical drivers.

West Texas Intermediate (WTI) US Oil surges on Monday, trading around $100.70 per barrel at the time of writing, up 13.70% on the day after briefly jumping above $110 during the Asian session, its highest level since mid-2022.

Silver price (XAG/USD) claws back a majority of its early losses and recovers to near its opening price around $84.00 during the European trading session on Monday.

Silver prices (XAG/USD) broadly unchanged on Monday, according to FXStreet data. Silver trades at $83.83 per troy ounce, broadly unchanged 0.08% from the $83.89 it cost on Friday.

Societe Generale analysts Michael Haigh and Ben Hoff say Brent has surged above $100/bbl as Middle East supply losses deepen and flows through the Strait of Hormuz largely cease. They estimate around 17 mb/d of supply is stranded, with most OPEC+ spare capacity trapped.

Danske Bank’s Danske Research Team highlights a sharp jump in Oil prices as Middle East tensions escalate, with Brent crude quoted at USD 116/bbl. The bank notes producers shutting down output and traffic halted through the Strait of Hormuz.

BNY’s Head of Markets Macro Strategy Bob Savage notes that Gold has broken a five-week winning streak, losing 3% as the Dollar rallied and Oil surged.

Qatar’s Energy Minister Saad al-Kaabi said that the country expects all Gulf energy producers to shut down exports within weeks and drive oil to $150 a barrel, the Financial Times reported on Friday. 

West Texas Intermediate (WTI), futures on NYMEX, give back some of its early gains after surging almost 28% to a fresh three-and-a-half-year high at around $113.00 during the early European trading session on Monday.

Gold (XAU/USD) attracts heavy selling at the start of a new week and drops to a four-day low during the Asian session, though it finds some support ahead of the $5,000 psychological mark.

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

West Texas Intermediate (WTI) crude Oil price opened at a gap up, extending its winning streak for the fifth successive session, and is trading around $110.60 per barrel during the Asian hours on Monday.

Silver (XAG/USD) attracts heavy selling at the start of a new week and drops to a four-day trough during the Asian session. The white metal currently trades around mid-$80.00s, down 4% for the day, and seems vulnerable to slide further.

Gold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.

Mojtaba Khamenei was named as Iran’s new supreme leader just over a week after his father, Ayatollah Ali Khamenei, was killed in US-Israeli strikes, CNBC reported on Sunday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $103.85 during the early Asian trading hours on Monday.

WTI crude oil surged about 11% on Thursday, breaching above $87.00, its highest level since October 2023, in a session dominated by a single massive bullish candle that dwarfed every session of the past three months.

United States Baker Hughes US Oil Rig Count climbed from previous 407 to 411

Gold price (XAU/USD) rallies on Friday during the North American session, boosted by a weaker-than-expected US jobs report and a risk-off market mood amid the Middle East conflict. At the time of writing, XAU/USD trades near $5,140, up more than 1%.

ING’s Commodities Strategist Ewa Manthey highlights that escalating conflict in the Middle East adds significant upside risk to Aluminium in an already tightening market.

Crude oil prices continue to surge on Friday as the crisis in the Middle East deepens.

Commerzbank commodity analysts Barbara Lambrecht and Carsten Fritsch highlight that the war in Iran and disruptions in the Strait of Hormuz are tightening the Oil market, widening Brent–WTI spreads and time spreads.

Gold (XAU/USD) edges lower on Friday, trimming earlier gains as a broadly stronger US Dollar (USD) and rising US Treasury yields continue to weigh on the non-yielding metal.

BNY’s Head of Markets Macro Strategy Bob Savage reports that Gold is set for its first weekly loss in five weeks as rate expectations shift toward hikes in Europe and fewer cuts from the FOMC. A stronger Dollar and use of Gold as a liquidity source weigh on prices.

Silver price (XAG/USD) trades broadly sideways around $82.80 during the European trading session on Friday. The white metal consolidates as investors await the United States (US) Nonfarm Payrolls (NFP) data for February, which will be published at 13:30 GMT.

ING strategists Warren Patterson and Ewa Manthey report that Copper prices have softened as LME inventories jump to a 16‑month high, suggesting supply is outpacing demand.

West Texas Intermediate (WTI), futures on NYMEX, surges to near $82.80 during the European trading session on Friday, the highest level seen since July 2024.

Qatar’s Energy Minister Saad al-Kaabi said in an interview with the Financial Times (FT) published on Friday that all Gulf energy producers to shut ​down exports within weeks amid the ongoing war in the Middle East, which involves the United States (US), Israel, and Iran.

Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $84.20 per troy ounce, up 2.65% from the $82.02 it cost on Thursday.

BNY’s Bob Savage highlights that Oil supply shock risks look underpriced even as prediction markets see high odds of crude reaching $100/bbl. He notes strong investor flows into Energy equities across regions and describes Oil as a new safe haven.