A red-hot inflation report in the United States and rising tensions between the latter and Iran pushed Gold price higher on Friday, past the $5,260 figure, posting solid gains of over 1.20%.

United States Baker Hughes US Oil Rig Count dipped from previous 409 to 407

MUFG’s Senior Currency Analyst Lloyd Chan highlights that an escalation in US–Iran tensions could trigger an Oil price shock, reviving global inflation and hurting Asia’s net Oil importers.

Silver price (XAG/USD) extends its gains for the third consecutive day after the latest inflation report in the United States prompted investors to seek the safety of the white metal, while the Greenback remained firm. At the time of writing, XAG/USD trades near $91.39 up close to 3%.

Commerzbank’s Carsten Fritsch expects OPEC+ to only slightly increase Oil production from April, with Russia underproducing and Kazakhstan constrained, so a modest quota hike should not pressure prices.

Citing an email from Israel Ambassador Mike Huckabee, NBC News reported that some embassy staff were told that they could leave Israel and that they need to do so quickly.

Commerzbank’s Thu Lan Nguyen and Carsten Fritsch note that Gold has stabilized around USD 5,200 per troy ounce, supported by political uncertainty over US tariffs and the US–Iran conflict. ETF inflows underline safe-haven demand, while high prices are curbing physical buying in India.

Gold (XAU/USD) consolidates with mild losses on Friday, as momentum stalls within this week’s established range.

Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $89.64 per troy ounce, up 0.90% from the $88.84 it cost on Thursday.

Deutsche Bank strategists describe a volatile session for Brent Oil as conflicting signals from US-Iran nuclear talks in Geneva triggered a near 5% intraday range.

Silver price (XAG/USD) is up 2.4% to near $90.60 during the European trading session on Friday. The white metal strengthens as escalating concerns over valuations of Artificial Intelligence (AI) stocks have prompted demand for safe-haven assets.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.65 during the early European trading hours on Friday. The WTI price edges higher on the day, but heads for a weekly decline after the United States (US) and Iran extended nuclear talks.

ING’s Commodities Strategist Ewa Manthey argues that despite recent consolidation after January’s sharp move, the Gold rally is not finished.

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

Gold (XAU/USD) struggles to capitalize on its modest gains registered over the past two days and oscillates in a narrow trading band below the $5,200 mark, during the Asian session on Friday. Geopolitical risks remain in play amid a huge American naval and air power buildup in the Middle East.

Silver (XAG/USD) struggles for a firm near-term direction and remains confined in a multi-day-old range during the Asian session on Friday.

Gold (XAU/USD) attracts some buyers to around $5,195 during the early Asian session on Friday. The precious metal edges higher as US tariff uncertainty spurs safe-haven demand. Traders await the release of the US January Producer Price Index (PPI) reports later on Friday for fresh impetus. 

Gold price stays firm on Thursday during the North American session as geopolitical tensions remain elevated despite the beginning of the third round of talks between the US and Iran in Geneva. Also, solid data from the US kept bullion prices contained.

TD Securities analysts see Copper remaining well supported as a key beneficiary of the debasement and diversification trade. They argue that strategic stockpiling by major consumers, tariff concerns and a deep supply deficit will push Copper to new highs over the next six months.

Rabobank’s energy strategists Joe DeLaura and Florence Schmit argue that global LNG markets, especially in Europe and Asia, would be pulled higher by Oil if Strait of Hormuz flows are threatened.

West Texas Intermediate (WTI) US Oil trades around $65.40 per barrel on Thursday at the time of writing, little changed on the day, after two consecutive days of losses.

Rabobank’s Michael Every highlights that escalating US–Iran tensions and potential military action could have far‑reaching consequences for Oil markets and broader commodities.

TD Securities commodity strategists see renewed upside in Gold prices. They argue that easier Fed policy, persistent core PCE near 3% and ongoing debasement dynamics could drive Gold toward fresh records around $5,700/oz.

Gold (XAU/USD) trades with a mild upside bias on Thursday but remains confined within this week’s trading range as markets stay cautious ahead of key geopolitical developments. At the time of writing, XAU/USD trades at $5,174 as bulls struggle to sustain gains above the $5,200 level.

ING’s Warren Patterson and Ewa Manthey say the outcome of US-Iran nuclear talks will be crucial for Oil, with a sizeable risk premium at stake. They note that ICE Brent timespreads signal better supply, while fundamentals and OPEC+ decisions could push prices lower if tensions ease.

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $87.50 per troy ounce, down 1.00% from the $88.38 it cost on Wednesday.

Deutsche Bank’s Early Morning Reid notes that risk sentiment improved across equities and credit, but rising US Treasury yields and reduced odds of early Fed cuts weigh on Gold. The 10‑year Treasury yield rose to 4.05% as markets priced out H1 easing.

West Texas Intermediate (WTI) Oil price remains steady after two days of losses, trading around $65.40 per barrel during the European hours on Thursday. Crude Oil prices hold steady amid ongoing United States (US)-Iran tensions that threaten potential supply disruptions.

Silver price (XAG/USD) trades in a tight range around $89.00 during the European trading session on Thursday. The white metal consolidates ahead of nuclear talks between the United States (US) and Iran in Geneva later in the day.

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