Surprising US-Iran Peace Talks: Gold and Silver Surge, Oil Prices Fall

On Monday, gold and silver rose more than 2% and oil fell more than 6% amid unexpected progress in U.S.-Iran peace talks, while Bitcoin declined to about $76,000. Iranian negotiators had left talks with Qatari mediators on Sunday, and a revised proposal was circulating. Tehran said its seven-step plan could be implemented within two days and could reopen the Strait of Hormuz if Washington ended its blockade of Iranian ports. Iranian Foreign Minister Abbas Araqchi described the consultations as intensive, though Trump had rejected an earlier proposal and Iranian sources still viewed renewed U.S. strikes as more likely than an agreement.