Crude oil prices dropped by more than 5% on Monday after reports that Washington informed Tehran that United States President Donald Trump’s administration is ready to meet with Iranian officials and negotiate a nuclear deal. West Texas Intermediate (WTI) for deliveries in March fell by 5.05% % at 3:20 am ET, going for $61.92 per barrel. Meanwhile, Brent for settlements in April slid by 4.75% to go for $66.03 per barrel t 3:22 am ET.
Markets Fallout Worsens as Gold, Silver and Copper Plunge
- Gold extends losses after biggest drop in over a decade
- Silver plunges as much as 12% after record slump on Friday
- Asian stocks set for worst two-day drop since early April
- Bitcoin declines to fresh 10-month low in Asia
Given the crowded docket of heavyweight losers, commodities like platinum and palladium may not get too much attention. But their movements are also remarkable, and lend much-needed texture to the broader market move. The former peaked last week above $2,922 an ounce; right now, it’s now trading near $1,940. Jake Lloyd-SmithEnergy and Commodities Editor, Singapore With precious metals under more pressure, copper’s losses are deepening too. Benchmark futures in London just extended declines to more than 5% on the day. Europe looks set up for a pretty tough session. Jake Lloyd-SmithEnergy and Commodities Editor, Singapore
A key focus for the week’s trading to come will be the magnitude of outflows from (or, conversely, the stickiness of) holdings in precious metals-backed exchange-traded funds. For sliver , these have already been negative for a while, and that trend served as an early-warning sign that a reversal in prices was likely on the cards. The global tally shrank by 4.6% in January.
That’s the most since 2022. Meanwhile, ETFs for gold have been much more solid. They’ve just expanded for a fourth straight week, according to data tracked by Bloomberg. Jake Lloyd-SmithEnergy and Commodities Editor, Singapore
Multiple Metals Futures in China Fall by Daily Down Limit
Another wave of selling has emerged in silver, which has once again declined by more than 10%, underscoring the intensity of liquidation across precious metals. Gold has also extended its losses, now down 5.8%, raising the likelihood of further deleveraging in commodity-linked positions.
Here’s a chart that shows the wave of Chinese metals trading that helped carry global prices higher before the rout. This shows throughput for all the six base metals on the Shanghai Futures Exchange — what began as a December surge became an all-out frenzy in January, taking volumes to by far their biggest monthly total ever.
NN: I have never seen a bubble market that did not blow up.
Gold deepens losses, plunges more than 5%…… Silver plummets nearly 12% as sell-off continues
The price of gold continued to drop, extending sharp losses from last week, amid a sell-off in the precious metals market. At the same time, there was seemingly no solid underlying cause behind the marked volatility affecting the yellow metal, which took place after it crossed the historic threshold of $5,000 per ounce in January. At 11:12 pm ET, gold slumped 4.91% to sell for $4,635.37 per ounce. Silver plummeted 8.78%, going for $76.64 per ounce, and platinium lost 1.87% to go for $2,181.97 per ounce, while palladium decreased 1.51% at 11:12 pm ET, changing hands at $1,725.24 per ounce.
Silver plummets nearly 12% as sell-off continues
Silver continued to drop wildly on Monday, as traders grappled with the dramatic correction that kicked off on Friday and saw it drop by over 35%. Silver nosedived 11.93% at 12:49 am ET, going for $73.98 per ounce. Gold plunged 7.16% to $4,539.45 per ounce at 12:55 am ET. Platinum fell by 4.09%, a minute later, selling for $2,133.92 per ounce and palladium dropped by 1.95% to $1,716.72 per ounce.
NN: On told trillions are being lost in gold, silver, bitcoin. Retirement accounts, hedge funds, mutual funds, investment banks are hiding massive losses. Remember me i warned you about this and it ain’t over.
Trump: We’ll see if Khamenei was right about regional war
United States President Donald Trump said on Sunday that Iranian Supreme Leader Ayatollah Ali Khamenei’s earlier remarks were unsurprising. “Why wouldn’t he say that? Of course he is going to say that. We have the biggest, most powerful ships in the world over there, very close,” Trump told reporters, referring to Khamenei’s warning about the “regional conflict.” Furthermore, the US president expressed hope that the two countries would reach an agreement regarding the nuclear program. “If we don’t make a deal, we’ll find out whether or not he was right,” he remarked.
Khamenei: If US attacks, it will turn into ‘regional’ war
Iranian Supreme Leader Ayatollah Ali Khamenei warned on Sunday that any military action by the United States against Iran would turn into a “regional” conflict. “We are not initiators of war, and do not want to attack any country – but the Iranian people will strike strongly anyone who attacks it,” Khamenei threatened, according to Iran’s state media. Meanwhile, US Ambassador to Israel Mike Huckabee stated earlier that US President Donald Trump “doesn’t make empty threats.”
NN: I think its past time for Trump to call Khomeini’s bluff
US envoy on Iran: Trump will keep his promise
United States Ambassador to Israel Mike Huckabee said that US President Donald Trump “doesn’t make empty threats” and that he will “keep his promise” regarding support for anti-government protesters in Iran. Earlier this year, Trump threatened to strike Iran in response to its violence and human rights abuses against the demonstrators, but later reversed course. In recent days, Trump also suggested he could attack Iran over its nuclear program. Huckabee told Israel’s Channel 12 that the decision on strikes has not been made yet. “President Trump is always hopeful for the best outcome,” he said, adding that the “ideal” scenario would be reaching a nuclear deal with Tehran. “But if he can’t, he’s not afraid to do what he proved he would do last summer,” he noted, referring to strikes against Iran’s nuclear facilities, carried out in cooperation with Israel
NN:
Continue reading “US envoy on Iran: Trump will keep his promise”
Bitcoin extends drop, falls 6% to below $80,000
Bitcoin slid sharply on Saturday, dipping 6% to under $80,000, as Ethereum lost over 11%. The downturn came amid renewed geopolitical unease, with traders watching escalating tensions between Iran and Western powers. This marks Bitcoin’s weakest level since April last year, when United States President Donald Trump’s sweeping tariffs kicked in, rattling global markets. At 12:58 pm ET, the world’s most famous cryptocurrency was trading at $78,784.476, down 6.34%, while Ether was priced at $2,399.9324, reflecting a 11.21% drop.
Iran explosions kill 5, Israel denies role
At least five people died and more than a dozen were injured in two separate blasts across Iran on Saturday, according to reports from state and local media. Israel denied any involvement in the incidents, reports said. Four fatalities followed a gas explosion inside a residential building in Ahvaz, while another incident in Bandar Abbas left one person dead and 14 injured, according to Mehr news agency. Meanwhile, Tasnim news agency rejected claims circulating online that a senior Revolutionary Guard officer was targeted, calling them “completely false.”
Saudi said to suggest US should attack Iran……Iran says nuclear program ‘cannot be eliminated
Saudi Defense Minister Khalid bin Salman warned the United States that Iran will be “emboldened” if the US decides not to strike it, Axios reported. He also allegedly denied that Saudi Arabia is turning against Israel, although one source said that “the more he said it, the less reassuring it sounded.” The report follows talks between Bin Salman and senior US officials, including Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth, at the White House on Thursday. However, it claims that Bin Salman left the meeting “without a clear idea” of Washington’s plans for Iran.`
Iran says nuclear program ‘cannot be eliminated
Iranian Army Commander Major General Amir Hatami (pictured) on Saturday declared that Iran’s nuclear program “cannot be eliminated” despite pressure from the United States, AFP reported. Hatami also warned that Iran’s forces remain prepared to respond to any attack. “The nuclear science and technology of the Islamic Republic of Iran cannot be eliminated, even if scientists and sons of this nation are martyred,” he said. His remarks followed comments from US President Donald Trump, who said he expected Tehran to seek an agreement to negotiate its nuclear status.
US conducts flight ops over Arabian Sea
A US Navy F/A-18E Super Hornet launched from the USS Abraham Lincoln while conducting “routine flight operations” in the Arabian Sea, US Central Command said on Friday. The aircraft belongs to Strike Fighter Squadron 151. The USS Abraham Lincoln is deployed in the region to “support security and stability” across the Middle East, according to the statement posted on X. The post included an image of the fighter jet taking off from the carrier’s flight deck. The deployment comes amid heightened tensions between Washington and Tehran, and hours after a US Navy guided-missile destroyer arrived at Israel’s Red Sea port of Eilat.