Gold price recoils by some 2% as the US Dollar rises after US President Donald Trump revealed that the war on Iran would last from two to three weeks, pouring cold water on hopes for a quick resolution to the Middle East conflict.

West Texas Intermediate (WTI) Crude Oil rebounds sharply on Thursday, rising more than 8% on the day, as ongoing tensions in the Middle East continue to keep a geopolitical risk premium embedded in prices amid supply disruptions through the Strait of Hormuz.

ING analysts Ewa Manthey and Warren Patterson note that Oil prices rebounded strongly, with Brent above $107/bbl and WTI near $106/bbl, after US President Donald Trump threatened a further escalation of the conflict with Iran.

Gold (XAU/USD) trades on the back foot on Thursday, snapping a four-day rally as initial optimism that the US-Israel war with Iran could end soon faded after US President Donald Trump signaled continued military action in his address to the nation.

OPEC+ is likely to weigh a further oil output quota hike at the meeting on April 5, Sunday, to prepare for any easing of Strait of Hormuz export constraints, according to a report from Reuters.

ING’s Ewa Manthey and Warren Patterson report Aluminium prices above $3,500/t after unconfirmed reports of major Gulf smelter disruptions at EGA and Alba.

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $71.46 per troy ounce, down 4.84% from the $75.09 it cost on Wednesday.

Rabobank’s Senior Market Strategist Benjamin Picton notes that Brent briefly fell below $100 before Donald Trump’s national address reversed risk sentiment, sending Oil higher and bond yields up.

Commerzbank economists Dr. Christoph Balz and Dr. Ralph Solveen argue that higher Oil prices from the Iran War are set to push US inflation higher. They expect March CPI to rise 0.9% month-on-month and 3.3% year-on-year, with core at 0.3% and 2.7%.

Gulf nations are considering pipeline projects to bypass the Strait of Hormuz amid concerns over Iran's potential control of the strategic waterway, the Financial Times reported on Thursday. 

West Texas Intermediate (WTI) Crude Oil prices caught aggressive bids on Thursday and rallied closer to the 100.00 psychological mark during the Asian session following US President Donald Trump's Iran war update.

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

Gold (XAU/USD) witnessed an intraday turnaround from the $4,800 mark, or a fresh two-week high set earlier this Thursday, and for now, seems to have snapped a four-day winning streak amid resurgent US Dollar (USD) demand.

West Texas Intermediate (WTI) Crude Oil prices catch aggressive bids during the Asian session on Thursday and surge past the $97.00 mark as US President Donald Trump's prime-time address gets underway.

Gold price (XAU/USD) extends the rally to near $4,775 during the early Asian session on Thursday. The precious metal surges amid a weakening US Dollar (USD) and cooling geopolitical tensions in the Middle East.

Gold (XAU/USD) price rallies for a fourth straight day on Wednesday, hitting a two-week high near $4,800 as the Greenback depreciates amid growing speculation of an end to the Middle East conflict. At the time of writing, the XAU/USD pair trades at $4,758, up nearly 2%.

United States EIA Crude Oil Stocks Change registered at 5.451M above expectations (2M) in March 27

Silver (XAG/USD) trades around $75.00 on Wednesday, edging slightly lower at the time of writing, as the precious metal pauses after a strong three-day recovery.

ING analysts Ewa Manthey and Warren Patterson highlight tightening conditions in Copper, as Chile posts its lowest monthly output in almost nine years and Ivanhoe cuts production guidance at Kamoa‑Kakula.

RaboBank's Global Strategist Michael Every highlights that Gulf War 3 and the closure of the Strait of Hormuz have pushed Oil prices about 60% above pre-war levels, with specific products like diesel and jet fuel particularly affected in Asia.

Gold (XAU/USD) appreciates for the fourth consecutive day on Thursday. The US Dollar (USD) tumbles as hopes of a quick end to the Iran war have improved risk appetite and triggered significant pullbacks in US Treasury yields.

BNY’s Head of Markets Macro Strategy Bob Savage highlights a sharp pullback in Brent and WTI as markets price a possible end to the Iran conflict within weeks, even as the Strait of Hormuz remains effectively closed.

West Texas Intermediate (WTI), futures on NYMEX, claws back half of its early losses during the European trading session on Wednesday. Still, the oil price is down 1.5% to near $96.00.

Gold (XAU/USD) edges higher on Wednesday, building on the previous day's solid gains as optimism grows that the US-Israel war with Iran could end soon. At the time of writing, XAU/USD is trading around $4,748, its highest level in nearly two weeks.

International Energy Agency chief Fatih Birol said during European trading hours on Wednesday that the ongoing oil supply crisis is worse than the two in the 1970s and Russia-related in 2022 put together.

HSBC’s Willem Sels and Lucia Ku reiterate a constructive six‑month view on Gold, keeping an Overweight stance. They argue recent headwinds should be short-lived, with fundamentals still supportive.

ING analysts Ewa Manthey and Warren Patterson note that Oil prices, including Brent and WTI, have dropped below $100 as US President Trump signalled a possible end to the war with Iran.

Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $74.48 per troy ounce, down 0.88% from the $75.14 it cost on Tuesday.

ING’s Ewa Manthey and Warren Patterson report that Gold has extended gains for a third session, with spot prices moving above $4,700/oz as hopes grow that war in the Middle East could end within weeks.

West Texas Intermediate (WTI), futures on NYMEX, is down 0.8% to near $96.60 in the early European trade on Wednesday. The oil price extends its correction from the three-week high of 103.33 posted on Tuesday on hopes of a ceasefire in the Middle East war.