Commodity wrap: gold and silver end volatile week with small gains; oil rises
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A volatile week for precious metals is ending on a slightly positive note, with gold and silver logging small gains.
Simmering geopolitical tensions and increasing safe-haven demand boosted gold prices on Friday.
Meanwhile, oil prices saw a modest increase on Friday, following reports from Iran’s foreign minister indicating that discussions between Iran and the US had commenced positively.
Copper prices also reversed losses and were 1% higher at the time of writing. Prices were volatile throughout the week as the red metal slipped from record highs touched in the preceding week.
The three-month copper contract on the London Metal Exchange was at $13,048 per ton, up 0.9% from the previous close.
Silver, gold experience a tumultuous week
On Thursday, the silver price plummeted by nearly 20%, erasing all the gains achieved since the week’s initial crash.
By Friday morning, the price had fallen further, hitting $64 per ounce, marking its lowest point since mid-December. The price has thus almost halved from its record high just over a week ago.
Gold also came under pressure, falling 4% on Thursday to $4,760 per ounce. On Friday, it continued to decline initially, but did not reach Monday’s low.
At the time of writing, gold on COMEX was up nearly 2% at $4,980.79 per ounce, while silver nearly reversed all the losses at $76.435 an ounce.
Gold prices rose this week, fueled by escalating tensions in the Middle East and the threat of an armed conflict between the US and Iran.
However, the two nations are currently engaged in diplomatic talks in Oman’s capital, Muscat, which Tehran has characterised as the initial phase of a more extended diplomatic process, according to Bloomberg.
The focus of this meeting is on broad topics, aiming to establish a road map for subsequent discussions, the Islamic Republic News Agency reported early Friday.
Neil Welsh, head of metals market at Britannia Global Markets, said:
Gold’s own retracement appears to be stabilising on renewed haven demand.
Oil gains
Following reports from Iran’s foreign minister that discussions with the US had achieved a “good start,” oil prices saw an increase of over 1% on Friday.
However, the crude benchmarks, West Texas Intermediate and Brent, were heading for their first weekly declines—3.4% and 2% respectively—since mid-December 2025.
This downturn occurred as investors reduced the risk premium they were pricing in and also engaged in profit-taking following a substantial rally.
Amid rising military tensions in the Middle East, the US and Iranian officials convened in Oman on Friday morning, following Washington’s deployment of at least two naval fleets to the region.
Iran’s foreign minister, Seyed Abbas Araghchi, described the initial discussions as a “positive and good start,” according to local news outlets, with further talks anticipated.
Markets are reacting to this dialogue between Tehran and Washington with cautious optimism, hoping it will help ease tensions and avert a wider conflict.
This prospect has already led traders to reduce the risk premium factored into crude prices this week.
Iran and the US previously disagreed on the agenda for Friday’s talks. While the US insisted on including a discussion of Iran’s missile arsenal, Iran rejected this, stating the discussions would be strictly confined to its nuclear program.
Araghchi confirmed talks focused “solely” on the nuclear issue.
Iran, a major oil producer near the crucial Strait of Hormuz shipping channel, may impact the supply-demand balance if an agreement is reached, potentially leading to production growth outpacing consumption.
Initial price support for crude oil at the beginning of the week came from anticipated tighter supplies, driven by extreme US weather-related production disruptions, outages in Kazakhstan, and Middle East conflict fears.
However, a stronger dollar and a broader commodity rout contributed to the price decline this week.
The price of WTI crude was at $64.32 per barrel, up 1.6%, while Brent was 1.7% higher at $68.68 a barrel.
The post Commodity wrap: gold and silver end volatile week with small gains; oil rises appeared first on Invezz
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Commodity wrap: gold and silver end volatile week with small gains; oil rises
Share:
A volatile week for precious metals is ending on a slightly positive note, with gold and silver logging small gains.
Simmering geopolitical tensions and increasing safe-haven demand boosted gold prices on Friday.
Meanwhile, oil prices saw a modest increase on Friday, following reports from Iran’s foreign minister indicating that discussions between Iran and the US had commenced positively.
Copper prices also reversed losses and were 1% higher at the time of writing. Prices were volatile throughout the week as the red metal slipped from record highs touched in the preceding week.
The three-month copper contract on the London Metal Exchange was at $13,048 per ton, up 0.9% from the previous close.
Silver, gold experience a tumultuous week
On Thursday, the silver price plummeted by nearly 20%, erasing all the gains achieved since the week’s initial crash.
By Friday morning, the price had fallen further, hitting $64 per ounce, marking its lowest point since mid-December. The price has thus almost halved from its record high just over a week ago.
Gold also came under pressure, falling 4% on Thursday to $4,760 per ounce. On Friday, it continued to decline initially, but did not reach Monday’s low.
At the time of writing, gold on COMEX was up nearly 2% at $4,980.79 per ounce, while silver nearly reversed all the losses at $76.435 an ounce.
Gold prices rose this week, fueled by escalating tensions in the Middle East and the threat of an armed conflict between the US and Iran.
However, the two nations are currently engaged in diplomatic talks in Oman’s capital, Muscat, which Tehran has characterised as the initial phase of a more extended diplomatic process, according to Bloomberg.
The focus of this meeting is on broad topics, aiming to establish a road map for subsequent discussions, the Islamic Republic News Agency reported early Friday.
Neil Welsh, head of metals market at Britannia Global Markets, said:
Gold’s own retracement appears to be stabilising on renewed haven demand.
Oil gains
Following reports from Iran’s foreign minister that discussions with the US had achieved a “good start,” oil prices saw an increase of over 1% on Friday.
However, the crude benchmarks, West Texas Intermediate and Brent, were heading for their first weekly declines—3.4% and 2% respectively—since mid-December 2025.
This downturn occurred as investors reduced the risk premium they were pricing in and also engaged in profit-taking following a substantial rally.
Amid rising military tensions in the Middle East, the US and Iranian officials convened in Oman on Friday morning, following Washington’s deployment of at least two naval fleets to the region.
Iran’s foreign minister, Seyed Abbas Araghchi, described the initial discussions as a “positive and good start,” according to local news outlets, with further talks anticipated.
Markets are reacting to this dialogue between Tehran and Washington with cautious optimism, hoping it will help ease tensions and avert a wider conflict.
This prospect has already led traders to reduce the risk premium factored into crude prices this week.
Iran and the US previously disagreed on the agenda for Friday’s talks. While the US insisted on including a discussion of Iran’s missile arsenal, Iran rejected this, stating the discussions would be strictly confined to its nuclear program.
Araghchi confirmed talks focused “solely” on the nuclear issue.
Iran, a major oil producer near the crucial Strait of Hormuz shipping channel, may impact the supply-demand balance if an agreement is reached, potentially leading to production growth outpacing consumption.
Initial price support for crude oil at the beginning of the week came from anticipated tighter supplies, driven by extreme US weather-related production disruptions, outages in Kazakhstan, and Middle East conflict fears.
However, a stronger dollar and a broader commodity rout contributed to the price decline this week.
The price of WTI crude was at $64.32 per barrel, up 1.6%, while Brent was 1.7% higher at $68.68 a barrel.
The post Commodity wrap: gold and silver end volatile week with small gains; oil rises appeared first on Invezz
Read More
Morning Brief: Asian markets slide, Bitcoin tumbles amid global risk-off mood