Gold and Oil are retreating amid the anticipation of Russia, Ukraine, America and Iran negotiations economy

Gold prices decreased today, while oil prices differed as customers’ evaluation of the impact of peace talks between Russia and Ukraine and negotiations between the United States and Iran on supplies and a strong actual demand.

gold

In the latest transactions, gold fell in instant transactions by 0.15% to $ 3225.40 an ounce, and US futures decreased 0.34% to $ 322.60.

The dollar was recovered slightly after it touched its lowest level in more than a week in the previous session, making the gold in the American currency less attractive to other currencies.

“We are witnessing the disappearance of the unaccounted for reducing the credit rating of the sovereign debt of the United States, and there is some hope to reach a truce between Ukraine and Russia,” said Kyle Roda.

US President Donald Trump spoke with Russian President Vladimir Putin on Monday and said that Russia and Ukraine will immediately show negotiations for a ceasefire.

“We are witnessing the appearance of buyers at the decreases of less than $ 3,200, however, I think we will witness a greater decline, especially if there is further decline in geopolitical risks,” Roda added.

Gold, which is one of the safe assets during periods of geopolitical and economic uncertainty, has recorded many record levels, and rose by 23% this year so far.

The Federal Reserve officials (the US Central Bank) dealt with caution with the implications of reducing the credit rating and unstable market conditions while continuing to deal with a very unstable economic environment.

A number of council officials are scheduled to speak later today, Tuesday, which may provide more visions about the economy and the Central Bank’s policy.

Markets are now expecting to reduce interest rates by at least 54 basis points this year, with the first reduction in October.

The performance of other precious metals was as follows:

• Silver settled in instant transactions at $ 32.43 an ounce.
• Platinum rose 1% to $ 1009.99.
• Palladium settled at $ 976.66.

Oil

Brent crude futures decreased 6 cents to $ 65.53 a barrel, in the latest transactions, while West Texas crude futures, which ended today, 48 cents to $ 63.17 a barrel, and July most traded 8 cents increased to $ 62.23 a barrel.

Official Iranian media reported yesterday, Monday, from the Iranian Deputy Foreign Minister for Political Affairs, Majeed Takht Rwanji, as saying that nuclear talks with the United States “will not lead to any result” if Washington insists on stopping Tehran completely uranium enrichment.

On Sunday, the US special envoy Steve Witkev reaffirmed Washington’s position that any agreement between the United States and Iran should include stopping uranium enrichment, which is a possible path towards developing nuclear bombs, and Tehran says that the purposes of its nuclear program are purely peaceful.

Alexon X Hods analyst, Alex Hodes, said that the talks of the talks are the weakest hopes of reaching an agreement that would pave the way to reduce US sanctions and allow Iran to increase its oil exports by between 300 thousand and 400 thousand barrels per day.

Prices received support from the expectations of high actual demand in the short term in light of the achievement of the refining sector in Asia, good profits margins.

“The Asian purchase cycle started a moderate start, but the strong margins and the end of maintenance work are expected to be a support factory,” said Nile Krosby, analyst at Sparta Community, Neil Crossby.

The London Stock Exchange Group data showed that the profit margins of the refining complex in Singapore, a pioneering regional index, exceeded 6 dollars a barrel on average during May, an increase of $ 4.4 a barrel on April.

The markets are awaiting peace talks between Russia and Ukraine to determine the direction of Russian oil flows, which may lead to a glue in the supply and negatively affect prices.

“Energy markets focus on possible peace talks and an agreement may eventually lead to a reduction in the sanctions imposed on Russia,” ING analysts said in a note for customers.

At the same time, Moody’s reduction in the credit rating of US sovereign debt weakened economic expectations for the largest energy consumer in the world and preventing oil prices from rise.

The agency had reduced the credit rating of the sovereign debt of America on Friday, noting concerns about the country’s increasing debts of $ 36 trillion.

Raw prices were subjected to additional pressure due to data that has shown the slowdown in industrial production growth and retail sales in China, the largest oil importer in the world.

In a memorandum of customers, the PMA expected to decrease oil consumption in 2025 by 0.3%, due to a slowdown in various categories of oil products.

“Even if China adopts motivational measures, it may take some time to make a positive impact on oil demand,” analysts added.