Daily Market Report
➢ Gold holds steady around $4,650 as traders adopt a wait-and-see stance ahead of today’s US PCE inflation data for Fed rate cues.
➢ Silver holds firmly above $69 ahead of the PCE release, showing resilience despite the cautious market tone.
➢ The US and Iran agreed a ceasefire deal, sending oil sharply lower as the geopolitical risk premium rapidly unwinds.
➢ Iran and Oman are pushing talks for an interim reopening of the Strait of Hormuz, adding further downside pressure on oil.
➢ WTI drops amid Middle East diplomacy and eased US sanctions fears, reversing much of the recent conflict-driven rally.
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