Global prices rose in Monday morning trade in Asia after President Donald Trump said the US has intercepted and seized an Iran-flagged cargo ship.
Iran has launched drone strikes on US military vessels in the Gulf of Oman, the Iranian semi-official news agency Tasnim reports, after the US Navy seized an Iranian-flagged container ship in the Gulf of Oman.
There has been no report of damage from the apparent drone attacks.
Earlier, Iran’s Khatam al-Anbiya Central Headquarters – the country’s highest operational command unit coordinating the armed forces – described the US naval operation as a violation of the ceasefire a violation of the cease fire and said it would “retaliate for this act of armed piracy by the US Navy.”
While the US and Iran were due to hold peace talks in Pakistan on Monday, with Vice-President J.D. Vance leading the US delegation.
But an Iranian spokesman says that they have “no plans for the next round of negotiation, and no decision has been made” on whether they will attend.
There are no reports of damage from the apparent drone attacks.
Earlier, Iran’s Khatam al-Anbiya Central Headquarters – the country’s highest operational command unit coordinating the armed forces – described the US naval operation as a violation of the ceasefire and said it would “retaliate for this act of armed piracy by the US Navy.”
Now, Iran has launched drone strikes on US military vessels in the Gulf of Oman, the Iranian semi-official news agency Tasnim reports, after the US Navy seized an Iranian-flagged container ship in the Gulf of Oman.
are signaling extensive selling pressure at the current levels, signaling a failure on de-escalation attempts, resulting in consistency in elevated oil prices as the are maintaining gains of approximately 6.24% while the Brent crude oil futures are maintaining opening gains of approximately 5.64%.
I find that a further delay in de-escalation efforts could make the next six trading sessions extremely bearish.
Gold futures, after starting the week with a gap-down opening, are struggling to hold above the significant support at the 50 EMA ($4,801), where a breakdown could trigger a selling spree.
I conclude that a breakdown of the gold futures below the next support at the 100 EMA ($4,655) could keep the bears in command.
My expected trading zone for the gold futures, on the daily chart, has the upside cap at $4,907, while the lower side is at $3,906.72, if the de-escalation fails.
Disclaimer: Readers are advised to take any position in gold at their own risk, as this analysis is based only on observations.
