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Commodities
Gold lifts over 2% amid M.East de-escalation prospects
Gold prices rebounded during Wednesday's Asian trade, lifting from more than one-month lows near $4,500 recorded on Tuesday as easing geopolitical tensions and a weaker U.S. dollar supported the recovery. By 3:50 pm AEST (5:50 am GMT), spot gold was trading 2.1% higher at US$4,650.74 per ounce. The move higher comes as improving risk sentiment reduced demand for the U.S. dollar as a safe-haven asset. Optimism surrounding a potential peace agreement between the United States and Iran has lifted market confidence, prompting investors to rotate away from the greenback and back into gold. Sentiment was boosted after U.S. President Donald Trump announced a pause in “Project Freedom”, the American operation aimed at escorting stranded vessels through the Strait of Hormuz, citing progress in negotiations. At the same time, declining oil prices have helped ease inflation concerns, reducing expectations that the Federal Reserve will maintain an aggressive monetary tightening stance. This has added further pressure on the U.S. dollar, providing additional support for gold prices. Looking ahead, traders will closely monitor developments surrounding the Middle East situation. Any tangible progress towards a formal agreeme
Commodities
Oil falls amid rising US-Iran deal hopes
Oil prices fell for a second consecutive session during Wednesday's Asian trade, as signs of a potential peace agreement between the United States and Iran raised expectations that disrupted Middle East supply could soon return to global markets. At 2:45 pm AEST (4:45 am GMT), Brent crude futures declined $2.01, or 1.8%, to $107.86 per barrel, following a 4% drop in the previous session. U.S. West Texas Intermediate (WTI) futures also fell $2.01, or 2%, to $100.26, after settling 3.9% lower a day earlier. Market sentiment weakened after U.S. President Donald Trump indicated progress towards a possible agreement to end the conflict with Iran, a development that could ease supply disruptions in the oil-rich region. In early Asian trading, Trump said he would temporarily pause ‘Project Freedom’, aimed at escorting vessels through the Strait of Hormuz, citing advancements in negotiations. He did not provide specific details on the proposed agreement, and there was no immediate response from Tehran. “We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the
Commodities
Gold edges higher; US-Iran tensions remain in focus
Gold prices edged higher during Tuesday’s Asian session, recovering modestly from recent one-month lows, although downside risks remain as geopolitical tensions and inflation concerns continue to weigh on sentiment. Spot gold rose 0.5% to US$4,544.27 per ounce by 4:10 pm AEST (6:10 am GMT), after falling to $4,500.45 in the previous session, its lowest level since 31 March. The rebound has been described by some market participants as a temporary recovery, with broader market dynamics still favouring the United States dollar. Risk-averse sentiment continues to underpin the greenback, limiting upside momentum in the non-yielding precious metal. Renewed tensions in the Strait of Hormuz have returned to the forefront of investor focus, following reports that U.S. forces fired on Iranian vessels and sank six small boats that were targeting civilian shipping. The move came as Washington attempts to reopen the critical waterway. At the same time, the United Arab Emirates (UAE) said its air defence systems intercepted 15 missiles and four drones launched by Iran, underscoring the escalating nature of the conflict. The developments have reignited inflation concerns, particularly after a sharp rise in oil prices overni
Commodities
Oil ticks lower; 'Project Freedom' eases supply fears
Oil prices eased more than 1% during Tuesday's Asian deals after a surge of over 4% in the previous session amid ‌signs the United States Navy is loosening Iran's grip on the Strait of Hormuz, potentially opening up supply from the Middle East. Trump on Monday launched a new operation, dubbed “Project Freedom”, aimed at reopening the strait to shipping. Maersk later said the Alliance Fairfax, a U.S.-flagged vehicle carrier, exited the Gulf via the Strait, accompanied by the U.S. military, easing some supply disruption fears. By 3:25 pm AEST (5:25 am GMT), Brent oil futures for July fell $1.16 or 1% to $113.28 per barrel after a rallying 5.8% higher on Monday. U.S. West Texas Intermediate (WTI) crude fell $2.06, or 1.9%, to $104.36, after ⁠gaining 4.4% in the previous session. The moves follow a series of escalating military incidents in the Strait of Hormuz, including Iranian drone and missile strikes on the United Arab Emirates (UAE) and a U.S. response targeting Iranian vessels. ING Think commodities strategists Warren Patterson and Ewa Manthey noted: "This re-escalation comes at a time when the U.S. has started guiding commercial vessels through the Strait of Hormuz, under ‘Project Freedom’. "Two U.S.-fla
Commodities
Gold slips as inflationary pressures cloud rate outlook
Gold prices edged lower in thin Asian trading on Monday as persistent inflation concerns clouded the outlook for United States monetary policy, while investors monitored developments in U.S.-Iran peace negotiations. By 3:45 pm AEST (5:45 am GMT), spot gold declined 0.4% to $4,597.00 per ounce, with trading volumes subdued due to public holidays in China, Japan and the United Kingdom. Market sentiment has been shaped by rising uncertainty around the Federal Reserve’s policy path, particularly following recent inflation data and the impact of higher oil prices linked to the Iran conflict. Federal Reserve Chair Jerome Powell concluded his tenure last week with interest rates left unchanged, while concerns about inflation continued to build. Several Federal Reserve officials who dissented from last week’s policy statement warned that the oil price shock stemming from the Middle East conflict could limit the central bank’s ability to cut interest rates, and may even necessitate higher borrowing costs in the future. Elevated oil prices are seen as a key driver of inflation risks, potentially forcing central banks to keep rates higher for longer. This dynamic tends to weigh on non-yielding assets such as gold, as investors

Commodities
Oil eases; holds above US$100 amid M.East tensions
Oil prices edged lower in Asian trade on Monday after United States President Donald Trump said Washington would assist ships stranded in the Strait of Hormuz, although ongoing tensions with Iran continued to support prices above the US$100 level. By 2:50 pm AEST (4:50 am GMT), Brent crude futures slipped 12 cents, or 0.1%, to $108.05 per barrel, while U.S. West Texas Intermediate crude fell 38 cents, or 0.4%, to $101.56 per barrel. The modest decline followed Trump’s post on Truth Social that the United States would begin efforts to guide vessels safely through the strategically vital waterway, which has been heavily disrupted amid the ongoing conflict with Iran. Despite the move, the absence of a peace agreement and continued constraints on shipping flows have kept oil markets elevated. Negotiations between the United States and Iran continued over the weekend, with both sides reviewing responses to recent proposals. While Trump has prioritised securing a nuclear agreement with Tehran, Iran has indicated it prefers to delay nuclear discussions until after the conflict ends and shipping blockades in the Gulf are lifted. Analysts at ANZ warned that supply disruptions are likely to persist, maintaining upward pres
Commodities
Gold holds near US$4,600 amid M.East tensions
Gold prices edged lower during Friday’s Asian session but remained close to the US$4,600 level, as investors balanced safe-haven demand against rising expectations for higher interest rates. By 3pm AEST, spot gold (XAU/USD) was down 0.3% at $4,608.72 per ounce, following a 1.7% gain in the previous session amid heightened geopolitical tensions in the Middle East. Investor focus remained on developments surrounding the United States and Iran, particularly the ongoing blockade of Iranian ports and the continued closure of the Strait of Hormuz. United States President Donald Trump reaffirmed his stance, signalling the blockade would remain in place. “Their economy is crashing, the blockade is incredible,” Trump said. “Their economy is a disaster. So we’ll see how long they hold out.” Iranian President Masoud Pezeshkian criticised the move, describing the naval blockade as an “extension of military operations” and calling it “intolerable”. While geopolitical risks typically support gold as a safe-haven asset, the current environment has also stoked inflation concerns due to elevated energy prices linked to supply disruptions. This, in turn, has reinforced expectations that the U.S. Federal Reserve could maintain a ti
Commodities
Oil climbs as Iran stalemate persists
Oil prices extended their gains during Friday's Asian deals, as the conflict involving Iran showed no signs of resolution, with supply disruptions continuing to underpin the market. By 2:25 pm AEST (4:25 am GMT), Brent crude futures for July had climbed $0.99, or 0.9%, to $111.39 per barrel, while U.S. West Texas Intermediate futures gained 41 cents, or 0.4%, to $105.48. Both benchmarks are now on track for a fourth consecutive monthly gain. Brent’s June contract, which expired on Thursday, surged to $126.41 per barrel during the session, marking its highest level since March 2022. Oil prices have been climbing steadily since late February, when military action by the United States and Israel against Iran triggered the closure of the Strait of Hormuz. The disruption has impacted shipments of roughly one-fifth of the world’s oil and liquefied natural gas supply, sending prices sharply higher, with Brent rising around 50% in March alone. Although a ceasefire has technically been in place since April 8, progress towards a lasting resolution appears limited. Iranian Foreign Ministry spokesman Esmaeil Baghaei signalled ongoing uncertainty around negotiations. "Expecting to reach a result in a short time, regardless of wh
Commodities
Gold edges up but remains pressured by rising US dollar
Gold prices edged higher during Thursday’s Asian session, attempting to stabilise after falling to monthly lows yesterday, although gains remained limited as investors favoured the United States dollar amid rising inflation concerns and a hawkish Federal Reserve stance. Spot gold rose 0.4% to $4,563.22 per ounce by 3:35 pm AEST (5:35 am GMT), recovering modestly from earlier lows near $4,510. Ongoing geopolitical tensions between the United States and Iran, particularly surrounding the Strait of Hormuz, have driven a surge in oil prices, intensifying concerns about inflation. Higher energy costs are reinforcing expectations that global price pressures could remain elevated for longer. At the same time, risk-averse conditions have supported demand for the U.S. dollar, which typically moves inversely to gold, limiting the precious metal’s upside. Axios reported that U.S. President Donald Trump reaffirmed the continuation of a naval blockade of Iran until an agreement is reached regarding Tehran’s nuclear programme. In response, Iran warned of "unprecedented military action" if the blockade persists. Additional reports suggested that U.S. Central Command is preparing contingency plans for targeted strikes on Iran