Gold and Silver Correct Ahead of Iran Peace Talks
Precious metal prices weakened on Monday (April 20) as tensions escalated ahead of planned peace talks to end the Iran war and reopen the Strait of Hormuz. Market sentiment was also influenced by US President Donald Trump's activity on Truth Social, with several posts emphasizing his defense of war and the goal of preventing Iran from developing nuclear weapons.
This movement partially reversed last week's trend when risk-on trading began to return. In the final session, the next-month gold contract closed down 1.1% at US$4,806.50/oz, while silver fell 2.2% to US$79.951/oz.
Looking ahead, the direction of precious metals is expected to remain headline-driven, with the market monitoring developments in the peace talks, dynamics in the Strait of Hormuz, and any further statements from Washington that could alter risk perceptions and investor positioning. (Arl)*
Source: Newsmaker.id