Precious Metals Gain on Geopolitical Caution

Gold prices held steady as a drop in US Treasury yields provided support against the backdrop of an uncertain resolution to the conflict in the Middle East. Silver advanced, with investors seeking the metal as persistent geopolitical tensions encouraged a cautious market approach.

Mixed Risk Sentiment Amid Ceasefire News

Markets delivered a mixed response to an extended US-Iran ceasefire, which prompted a rebound in some risk assets like US equity futures and the Australian dollar. However, crude oil prices rallied sharply as the ceasefire failed to calm supply fears, and broader market sentiment remained on edge due to persistent tensions in the Strait of Hormuz.

US Dollar Remains Resilient as a Safe Haven

The US Dollar held firm as investors continued to favor it as a safe-haven asset amid lingering uncertainty surrounding the Middle East conflict. The greenback's resilience was noted against other major currencies as ongoing tensions kept markets cautious.