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Commodities · Gold · Silver · US-Iran Talks
Gold and silver futures are indicating a steep fall, driven by market anticipation of a potential US-Iran agreement amid ongoing negotiations since the beginning of the year, which reduces safe-haven demand for precious metals.
US President Donald Trump insisted that negotiations with Iran continue to seek a deal, following a meeting with Israeli Prime Minister Benjamin Netanyahu at the White House. Netanyahu presented Israel's concept for negotiations, advocating for limits on Iran’s ballistic missile program and cuts to its ties with militant groups like Hamas and Hezbollah.
Trump stated a good deal must include "no nuclear weapons, no missiles." Iranian President Masoud Pezeshkian, however, asserted that a "wall of distrust" hinders talks and vowed Iran will not surrender to excessive demands or negotiate its missile program or regional alliances. Indirect talks were held in Muscat, Oman, and Trump is considering sending a second aircraft carrier strike group if negotiations fail.
The author, Satendra Singh, observes a higher inclination from both the U.S. and Iran to avoid confrontation, partly due to Trump's desire to avoid controversy before the mid-term elections. Gold futures, trading at $5,077, are expected to break below immediate support at $5,017, potentially reaching $4,923.
Silver futures, trading at $82.613, are already below a 'Bearish Crossover' and are poised to fall below $79.703, possibly to $75.903 or $64.401. The spot Gold-Silver Ratio indicates a reversal from 59.93, confirming a breakout above 61.27.
