Commodity Wrap: Oil Slips Below $100; Gold Rallies, Silver Hits 3‑week High
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Silver Takes the Lead as Gold Fights Yield Pressure (week ending 5.8.26)
Gold and silver got slammed early in the week as surging oil prices, rising Treasury yields, and Iran-Strait of Hormuz tensions triggered a sharp selloff—before both metals staged a powerful rebound as the dollar eased and traders stepped back into the dip. Silver dramatically outperformed in classic high-beta fashion, ripping back above $81 by Friday even after the jobs report came in stronger than expected. Looking ahead, next week’s spotlight…
Commodity wrap: Oil slips below $100; gold rallies, silver hits 3‑week high
Brent crude oil reversed gains from earlier in the day and dropped below $100 per barrel on Thursday on hopes of a peace deal between the US and Iran, which could reopen the Strait of Hormuz. Gold rose for the third consecutive session and was comfortably above $4,700 per ounce. Silver prices rose to a near three-week high to above $82 an ounce. Meanwhile, aluminium fell below $3,500 per ton, while copper prices on the London Metal Exchange were…
Oil prices have fallen sharply, and international exchanges have recorded significant increases following information that the United States and Iran are approaching an agreement for the end of the conflict, writes BBC. Brent's crude rating, the global record of the oil market, went down to $97 per barrel after the information appeared, before returning over [...] Source
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