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Precious Metals Rise as Energy Markets Decline
(MENAFN) Gold values climbed while oil and other energy commodities retreated, reflecting growing confidence in a potential diplomatic breakthrough regarding the Iran conflict.
The price of gold per ounce increased by 0.6% at 0610GMT, reaching $4,340, while silver advanced 0.4% to $68.4. Brent crude futures traded at $93.2 per barrel, marking a 1.2% decrease, and West Texas Intermediate (WTI) slipped 1.5% to $89.9.
The TTF Gas index, Europe’s primary benchmark, fell by 1% to €49.9 per megawatt/hour. Heating oil also declined, dropping 0.5% to $3.5 per gallon.
Diplomatic discussions between the United States and Iran continue, according to President Donald Trump, who spoke early Tuesday. His remarks came shortly after Iran and Israel agreed to suspend attacks against each other, easing tensions that had threatened to destabilize a fragile ceasefire.
Trump emphasized that negotiations with Tehran persisted even during the recent surge in hostilities, suggesting that a formal agreement to end the war could be achieved within "one or two days from now, but I think it's going well."
The price of gold per ounce increased by 0.6% at 0610GMT, reaching $4,340, while silver advanced 0.4% to $68.4. Brent crude futures traded at $93.2 per barrel, marking a 1.2% decrease, and West Texas Intermediate (WTI) slipped 1.5% to $89.9.
The TTF Gas index, Europe’s primary benchmark, fell by 1% to €49.9 per megawatt/hour. Heating oil also declined, dropping 0.5% to $3.5 per gallon.
Diplomatic discussions between the United States and Iran continue, according to President Donald Trump, who spoke early Tuesday. His remarks came shortly after Iran and Israel agreed to suspend attacks against each other, easing tensions that had threatened to destabilize a fragile ceasefire.
Trump emphasized that negotiations with Tehran persisted even during the recent surge in hostilities, suggesting that a formal agreement to end the war could be achieved within "one or two days from now, but I think it's going well."
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