Metal market overvaluation continues
Metal prices extended declines after the U.S. attack on Iran on Tuesday, which retracted the vision of a quick agreement in the Middle East.
Read also: Will the dollar surprise again? Iran warns the U.S. after attacks: “If you want to be safe, leave our region”
The exchange of fire between Washington and Tehran has once again heightened uncertainty about the end of armed actions, which carry the risk of extending the closure of the key shipping lane, the Ormuz Strait.
Iran’s Foreign Minister, Abbas Araghchi, warned the United States of further attacks, which, according to information provided by the U.S. Central Command, were a “proportional response to recent attacks on U.S. forces and international commercial vessels passing through the region’s waters.”
“Despite setbacks on the battlefield, the United States decided to test our determination. Our powerful armed forces will not leave any attack or threat unanswered,” Araghchi said in a post on X.
“If you want to be safe, leave our region. The history of the Persian Gulf contains many chapters devoted to the tragic fates of outsiders from the outside,” he added.
As reported by CENTCOM, U.S. forces “attacked Iranian air defense, ground control stations and radar stations near the Ormuz Strait using precision munitions from U.S. Air Force and Navy fighters.”
The war that has been ongoing since the end of February has shaken global financial markets, raising oil prices and inflation fears.
Investors in the coming hours will also face a new picture of U.S. economic resilience thanks to the CPI inflation report, which paves the way for the upcoming Federal Reserve decision on interest rates.
“We expect that in the near future prices will be more susceptible to fluctuations as the probability of a rate hike increases,” said Suki Cooper, head of commodity research at Standard Chartered Plc.
The expert also warned of losses in gold-based portfolios, adding that the next technical support level for the metal is about 4,100 USD per ounce.
For comparison, the latest information indicates that the CitiGroup team lowered the three‑month target for gold to 3,500 USD per ounce.
Also see: Gold price fell 12%, will there be further discount soon? Expert: “With possible de‑escalation there is a chance to recover losses”
Gold and silver price on Wednesday, June 10
Gold price on the spot market on Wednesday, June 10 is at 4,160 USD per ounce after a decline of 2,35%.
Chart. Gold spot market price (XAU/USD)
Source: Trading Economics.
Silver price falls instead by 1,8% to 64,1 USD per ounce.
Chart. Silver spot market price (XAG/USD)
Source: Trading Economics.
Read also: Gold price unstoppable? Expert: “Gold could just as well reach 7,000 USD or 10,000 USD per ounce”
Also see: Stock market in 2026 is preparing a surprise? “Investors should ensure their portfolios are ready for an up‑trend”
