Gold slipped on Monday as oil prices held gains due to the Strait of Hormuz standoff and higher inflation expectations, offsetting safe-haven demand.
Iran holds diplomatic line amid unverified Hormuz missile strike, Trump rejects offer but sees further talks. Saudi Arabia faces widening threat from Houthi…
Crude oil dropped below its 100-hour moving average and swing area support, with sellers eyeing a potential downside target at $88.77.
Gold declined after Trump's comments on Iran and strong US PMIs, but renewed deal hopes and Strait of Hormuz reopening offer support.
Copper futures hit a record $6.95/lb on Sept 22, outpacing gold's flat 2026 amid supply tightness and AI demand.
Oil prices rose to a one-week high after Houthi strikes on Saudi Arabia, but gains were trimmed by reports of a potential US-Iran deal on the Strait of Hormuz.
Reuters sources report US-Iran discussions on a phased arrangement to reopen Hormuz and lift the blockade; crude dropped to $94.55, yields eased.
Morgan Stanley and Goldman Sachs warn a US diesel export ban could push gasoline prices up as refiners cut output, while Trump weighs the curb.
InvestingLive and Base Markets host a free webinar on October 13, 2026, covering gold trading, market noise, broker checks, and risk management.
Gold prices declined toward last week's lows as 10-year Treasury yields rose above 5.10%, pressuring the non-yielding metal.
Goldman cut its end-2026 gold forecast to $4,650/oz from $4,900, kept $5,400 target for 2027, citing central bank buying.
Russia's economy ministry cut 2026 gas output and LNG export forecasts as the EU prepares to halt purchases.
Brent settled up nearly 4% as diplomacy stalled, while diesel fluctuated on conflicting US export ban reports. US crude stocks rose unexpectedly.
The White House edges closer to a 90-day diesel export ban, with Trump reportedly ready to announce within days, despite cabinet opposition.
The White House dismisses a Politico report on a 90-day diesel export ban as 'fake news,' despite Trump's earlier comments.