Gold Spot Price AUD $6291.98

Silver Spot Price AUD $107.75

Platinum Spot Price AUD $2744.66

For the first time in months, global markets are beginning to whisper about the possibility of stability returning to the Middle East. Reports this week suggest the United States and Iran are edging closer to a formal Memorandum of Understanding, with negotiations heavily centred around Iran’s nuclear commitments and inspections. While nothing is final yet, the mere discussion of a pathway forward has eased some tension across oil markets.

The Strait of Hormuz remains the key focus. The region handles a significant portion of the world’s oil movement, and any disruption there quickly flows into fuel prices, shipping costs and inflation around the globe. Current discussions suggest a phased reopening could occur within 30 to 60 days if conditions within the MOU are met. Markets have responded cautiously, with investors hopeful but not fully convinced that peace will hold long enough to restore stability.

Gold and silver have softened slightly on the back of the improving sentiment, although many investors remain hesitant to fully rotate back into risk assets. After months of conflict headlines, inflation pressure and shipping concerns, there is still a sense that global markets are one bad headline away from another spike in volatility.

Back home, Australians are continuing to wrestle with growing economic uncertainty of their own. Confusion surrounding the government’s taxation reforms, particularly around capital gains tax changes and investment structures, has already started affecting confidence in the property sector. Housing market declines are now being measured across every Australian state, with auction participation softening and many investors pausing to reassess where they place their money moving forward.

Part of the frustration appears to be uncertainty itself. Many Australians are still trying to understand how the new tax rules will impact family trusts, investment properties, retirement planning and long-term wealth creation. Combined with higher interest rates, rising insurance costs and general living expenses, the result is an economy where both households and investors are becoming noticeably more cautious.

Enjoy today’s charts

Gold daily chart, with 50MDA