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Commodities Wrap: Oil Sinks on Geopolitical Optimism, Gold Defies Dollar Strength
Abstract：Crude oil prices extend losses as a potential diplomatic thaw between the US and Iran reduces supply risk premiums, compounded by headwinds from a firmer US Dollar. Meanwhile, Gold stages a technical recovery, returning to late-January levels despite the greenback's ascent.
Crude oil prices extended their decline as markets react to potential de-escalation between the US and Iran, coupled with a strengthening US Dollar.
Geopolitics and Currency Weigh on Crude
The prospect of a diplomatic thaw between Washington and Tehran has prompted traders to price out risk premiums. A firmer dollar makes oil more expensive, leaving WTI and Brent searching for support.
Gold Stages Technical Recovery
- Gold (XAU/USD) reclaimed ground despite broad USD strength.
- Prices rebounded to levels seen in January as technical buyers intervened.
- Divergence highlights shifting geopolitical risks in the Middle East vs macro correlations.
Technicals
- Asset: WTI and Brent
- Asset: XAU/USD
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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