Gold Pricing $5835.12

Silver Pricing: $84.16

Platinum Pricing: $2335.14

Geopolitical tensions have quickly returned to centre stage after several weeks of relative calm. While headlines were briefly dominated by US President Donald Trump’s appearance during the FIFA Club World Cup trophy presentation, developments in the Middle East and Eastern Europe have become far more significant for global markets. The conflict involving the United States and Iran has intensified, with fresh military activity raising concerns that the region could be entering one of its most volatile periods in recent months. At the same time, Ukraine continues to face renewed attacks, adding another layer of uncertainty to an already fragile global outlook.

Energy markets have responded accordingly. Oil prices have pushed higher as traders once again price in the risk of supply disruptions from two major geopolitical flashpoints. While no major interruption to global oil supply has occurred, markets remain highly sensitive to any threat involving the Strait of Hormuz or broader instability across the region. Higher energy prices also reignite inflation concerns at a time when many central banks were hoping price pressures were beginning to ease.

Precious metals are showing signs of renewed strength following several weeks of consolidation. Gold has stabilised comfortably above the psychological US$4,000 per ounce level, trading around A$5,830, while silver has held near US$55, or approximately A$84. Technical indicators are also becoming more constructive. Relative Strength Index (RSI) readings for both metals have recovered from oversold territory, suggesting the recent correction may have run its course. If geopolitical uncertainty persists and inflation expectations begin to rise alongside oil prices, both gold and silver could be well positioned to build momentum through the coming month.

Enjoy today’s charts

Gold daily chart, with 50MDA