Precious metals extended their losses on Monday, with gold falling by more than 3% to slip below the $4,000 mark as investors digested the news that the United States and China had reached a consensus on some crucial trade issues during their negotiations in Kuala Lumpur, Malaysia. US President Donald Trump also revealed that his Chinese counterpart Xi Jinping gave a “provisional approval” of the TikTok deal signed in September, which boosted traders’ optimism about the relationship between the two leaders. Gold dropped by 3.01% to $3,986.48 per ounce at 10:56 am ET, while silver fell by 4.78% to $46.25 per ounce a minute later. Platinum dipped by 1.17% and went for $1,602.23 per ounce at 10:57 am ET, and palladium declined by 1.87% at 10:58 am ET, going for $1,399.51 per ounce
Zelensky vows to expand attacks on Russian oil sites
Ukrainian President Volodymyr Zelensky stated on Monday that Russia’s oil refining is already paying a “tangible” price, vowing his country would continue to strike facilities deep inside Russia. “We set tasks to expand the geography for the use of our long-range capabilities,” Zelensky wrote on X. “We are working closely with manufacturers on long-term contracts. The three-year term allows manufacturers to better plan the use of necessary resources and scale up supplies to the military. The number of such contracts will grow,” he added. Earlier today, Zelensky revealed Kiev and its allies are preparing a plan for a ceasefire with Russia. He also reiterated that his country needs long-range weapons to increase pressure on Moscow.
NN: Your about to see a serious escalation in this war, The next to go is Russian oil
US said to have told Israel ‘next 30 days crucial’ for ceasefire
Senior United States officials called on Israel to refrain from overreacting in case Hamas violates the ceasefire, as “the next 30 days of the ceasefire agreement are crucial,” The Times of Israel reported on Sunday, citing an Israeli source familiar with the matter. The source said that several top US officials, including Vice President JD Vance and Secretary of State Marco Rubio, visited Israel last week to make sure that the Gaza ceasefire holds. Additionally, the source ensured that US Special Envoy to the Middle East Steve Witkoff and President Donald Trump’s son-in-law Jared Kushner warned Israel not to “act in a way that would endanger the ceasefire” as the US wants “to do everything to reach the second phase.”
NN: Its only a matter of time
Araghchi says Iran’s ‘nuclear bomb’ is power to resist
Iran’s Foreign Minister Seyed Abbas Araghchi said Iran’s “nuclear bomb” is its ability to reject pressure from world powers, according to WANA News. Araghchi added that while Iran and the United States remain divided over Washington’s approach, the relationship can still be “managed.” He also stressed that Iran’s nuclear program is lawful and peaceful, citing a religious decree against nuclear weapons. Araghchi pointed to the 12-day conflict with Israel as a moment of unity for Iranians at home and abroad, calling it a “historic turning point.”
NN; this is no surprise
Putin questions advisers behind Trump’s oil sanctions
Russian President Vladimir Putin warned on Thursday that new US sanctions targeting Rosneft, Lukoil, and their subsidiaries could drive up global fuel prices, including in the United States. He questioned the motives of advisers within the Trump administration who, he suggested, are influencing President Donald Trump’s decisions on restricting Russian oil exports. Putin added that such measures could have “sensitive” consequences given the US political calendar. At the same time, the Russian leader expressed hope that the sanctions will not significantly affect the global energy market. The Russian leader also said that time is needed to arrange a meeting with Trump, stressing that it would be a “mistake” for both sides to hold talks without proper preparation and concrete results.
EU passes 19th package of sanctions against Russia
The EU member nations approved the 19th sanctions package against Russia, announced by the Danish rotating presidency. The agreement followed Slovakia’s decision to lift its reservation after securing energy and industry-related assurances from the European Commission.
“We are very pleased to announce that we have just been notified by the remaining member state that it’s now able to lift its reservation on the 19th sanctions package,” the presidency confirmed. “If no objections are received, the package will be adopted tomorrow by 8 am.”
In addition to energy sanctions, the EU will impose further travel restrictions on Russian diplomats and blacklist another 117 vessels from Moscow’s so-called shadow fleet. The total number of targeted ships now stands at 558.
US to announce Russia sanctions today or tomorrow
United States Treasury Secretary Scott Bessent spoke to reporters on Wednesday, revealing that there will be a “substantial pick-up” in sanctions against Russia. “We are going to announce [them] either after the close this afternoon or first thing tomorrow morning,” he detailed. Bessent’s comments come on the heels of a Wall Street Journal report, which claimed that Washington gave Ukraine a green light to use Western-made long-range missiles and strike Russian territory. While US President Donald Trump and Russian President Vladimir Putin were supposedly looking to meet in person in Budapest in the near future, it remains unclear if the summit will take place any time soon.
US said to allow Ukraine to use long-range missiles
The Trump administration has removed a “key restriction” on Ukraine’s use of Western-made long-range missiles in its attacks against Russia, the Wall Street Journal reported on Wednesday, citing United States officials. According to the report, Washington’s decision to lift the restriction on Kiev’s use of British-supplied Storm Shadow cruise missiles came before Ukrainian President Volodomyr Zelensky visited the White House last week, reportedly aiming to convince US President Donald Trump to provide him with Tomahawks. The lifting of restrictions allowed Ukraine to attack a chemical plant in southern Russia’s Bryansk region using Storm Shadow missiles. Although the missiles are Franco-British, the United States has the power to restrict Kiev’s use of Storm Shadow due to its use of American targeting information. The report noted that the US officials expect Ukraine to carry out more cross-border attacks using these missiles, which have a range of over 180 miles.
NN: game on…. oil is soaring
Gold continues to decline, slides by another 2.5%
The price of gold continued to decrease on Wednesday as investors maintained hope that the United States Federal Reserve might reduce its key interest rate at its meeting next week. Meanwhile, US President Donald Trump voiced his expectations that the scheduled talks with his Chinese counterpart Xi Jinping will go “well” and that Washington will “do well in that negotiation.” Gold slumped by 2.45% at 7:13 am ET to $4,024.18 per ounce. At the same time, silver dropped by 1.94% to $47.76 per ounce. On the other hand, platinum rose by 1.05% at 7:14 am ET to $1,561.09. Palladium increased by 1.49% to $1,413.52 per ounce.
NN: You will see $500 gold before you see $5,000
Trump-Putin meeting postponed
There are currently “no plans” for a meeting between United States President Donald Trump and Russian President Vladimir Putin in the “immediate future,” a White House official told CBS News on Tuesday.The same source also reported that Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov held a “productive” phone conversation yesterday, but that an in-person meeting between them was “not necessary.” Still, Lavrov already voiced surprise about the alleged postponement of the US-Russia summit, underscoring Moscow’s commitment towards “lasting peace.” Trump spoke with Putin last week and later indicated he could meet him in Hungary to discuss prospects for ending the war in Ukraine.