Gold and Silver Hold Firm as US-Iran Deal Cools Crude Prices

Gold and silver prices rose in early US trading Tuesday, with spot gold near $4,343.20 an ounce, up 0.81%, and silver at $70.47, gaining 0.86%. The gains followed a drop in oil prices after a tentative US-Iran agreement to ease tensions and reopen the Strait of Hormuz. Lower crude, with Brent slipping below $80 a barrel, eased inflation worries and bolstered precious metals ahead of the Fed meeting on June 16-17. Treasury yields softened while equity futures pointed to modest advances. Technically, gold bulls target a break above the 200-day EMA toward $4,600 with support at $4,200. Silver eyes a move past $70 aiming for $74.60, though downside risks lie below the 200-day EMA.