Gold, silver and platinum prices fell on Monday as escalating tensions between the United States and Iran affected precious metals markets.
The US Navy fired on an Iranian cargo ship and seized it in the Gulf of Oman, renewing concerns before a US-Iran ceasefire expires this week.
Gold, silver and platinum record record losses as geopolitical tensions escalate
Precious metals are starting to pull back from last week’s rally. Silver rose more than 6% on Friday to more than $83 Hopes for de-escalation. Iran too Temporarily reopen Strait of Hormuz for commercial ships.
However, this move was reversed once charging stopped again. Today, the price of silver fell 1.07% to $79.89, according to Trading Economics. Data. Platinum led sales, declining 2.22% to $2,094.20. Gold fell 0.85 percent to $4,792.48.
copper Decreased by 0.80% to $6.0544, off its highest close since early February. Zinc and lead also decreased.
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On the other hand, industrial and battery metals have held up better than precious metals. Lithium rose 1.77%, while iron ore and steel rose.
Brent jumped as much as 7.9%, and WTI rose more than 7% toward $90, sparking a rebound in inflation. Fears that prune Expectations of interest rate cuts by the Fed weighing on non-yielding metals.
The cryptocurrency market was also part of the widespread sell-off. BeInCrypto Markets Data It showed that the total market value decreased by 1.15% during the past 24 hours. Bitcoin (BTC) fell below $74,000 in early Asian trading hours today before settling at $74,190 by press time.
All attention now turns to the ceasefire deadline on Wednesday and a possible new round of negotiations. Trump said that American negotiators will fly To Islamabad on Monday.
The Iranian Broadcasting Corporation (IRIB) said Tehran had none Plans To join the next round, citing unnamed Iranian sources.
There are currently no plans to participate in the next round of Iran-US talks.”
But Al Jazeera I mentioned Iranian officials are likely to attend, pointing to preparations already underway in Islamabad. Further losses in precious metals depend on whether either side returns to the table and the outcome.
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