Gold and silver prices fell as investors bet on a US-Iran agreement despite ongoing military actions in the region.
Gold and silver prices declined in Asian trading as optimism over a potential US-Iran peace deal outweighed concerns about recent military strikes. US forces targeted Iranian missile sites and boats in defensive actions, while Iran’s IRGC reportedly struck a vessel at sea.
Negotiations in Doha between Iran’s foreign minister and Qatar’s prime minister focused on finalizing a framework agreement to end the three-month conflict. US Secretary of State Rubio indicated a deal could be reached within days, though analysts warned oil flows may not normalize quickly due to regional infrastructure damage.
Traders interpreted the simultaneous diplomacy and military exchanges as a sign of progress rather than escalation, driving demand for risk assets and pressuring safe-haven metals.