Commodity Wrap: Oil Drops, Gold Rallies as US-Iran Peace Hopes Gain Ground
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4 Articles
Future metal contracts with delivery for June closed the day at 1.36% high, quoted at $4,560.5 per ounce-troy
Commodity wrap: Oil drops, gold rallies as US-Iran peace hopes gain ground
Oil prices slipped more than 1.5% on Friday as optimism grew over the US and Iran reaching a peace deal, which could ease the flow of supplies from the Strait of Hormuz. Meanwhile, gold and silver prices climbed as energy contracts slipped, alleviating concerns about elevated inflation levels and higher interest rates. The aluminium contract on the London Metal Exchange fell slightly as hopes of a peace deal eased supply concerns. Copper prices …
The Ibex 35 rose 0.7% to 18,425 points, while oil fell around 1.25% amid the possibility of a 60-day ceasefire in Iran, settling at $92.50. The rest of the European stock markets, meanwhile, advanced on a day in which AI once again took center stage. Dell's shares soared 40% on Wall Street after tripling profits (to $3.44 billion in the first fiscal quarter), beating forecasts, and raising its guidance thanks to artificial intelligence. Within t…
The prospect of a deal between the US and Iran boosted markets. Gold and silver prices rose, while oil and the dollar index fell sharply.
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