Interest Rates Remain Key Driver for Gold and Silver Despite Middle East Tensions – StoneX

Interest rates continue to be the main driver for gold and silver prices despite escalating US-Iran tensions, according to Rhona O'Connell of StoneX. She points to downside risks as Far East buying is offset by sales elsewhere, with Middle East activity subdued and only modest interest emerging in India. Professional traders focus mainly on rate moves tied to geopolitics, keeping prices in narrow ranges with a slight downward bias.