Russia-Ukraine trilateral talks may resume in November; US announces new Iran sanctions and reduces troop presence in the Middle East
Event: On the 21st local time, Russia said it was prepared to resume Russia-US-Ukraine trilateral talks in November. Ukrainian President Zelenskyy said he supported launching them as soon as possible, while US President Trump said the end of the Russia-Ukraine conflict had never been closer. On the same day, the US Treasury announced a new round of sanctions on Iran, targeting law firms in Panama and Greece, shipping agencies in Singapore and the UAE, and a group of cargo vessels generating revenue for Iran. Two US officials said the US military had recently been quietly reducing troop numbers at its bases in Jordan, Qatar, and Kuwait.
Reason: Expectations of peace talks and escalating sanctions emerged on the same day, with geopolitical pricing reflecting both escalation and easing. On the 20th, two oil tankers struck mines in the Strait of Hormuz. The US Strategic Petroleum Reserve has fallen to its lowest level in 44 years, and the US energy secretary said Gulf oil flows had recovered to 80 percent of pre-conflict levels. Iran's new defense minister said the country was ready for a fourth round of war, while Iran's president stressed that the US must lift sanctions before negotiations can begin.
Impact and beneficiary assets: Oil prices surged before retreating early on the 22nd. Brent briefly climbed above $111.32 and was last quoted at $110.163; $CL was quoted at $98.02. Energy and oil shipping benefit from the risk premium, but a resumption of peace talks would compress that premium. CL was quoted at $98.02. Energy and oil shipping benefit from the risk premium, but a resumption of peace talks would compress that premium. $BZ faces resistance at $111.32 and $114, with support at $107.68 and $105. Elevated oil prices weigh on risk assets through the inflation channel, providing the macroeconomic backdrop for Bitcoin's early-morning surge and retreat.
7 Gold and silver fell early on the 22nd, with gold retreating to $4,127
Event: Early on the 22nd, spot gold was quoted at $4,126.98, down 0.34 percentage points from the previous close of $4,141.10. Its early-morning range was $4,122.04 to $4,143.89. Spot silver was quoted at $57.51, down 0.76 percentage points from the previous close of $57.95, with a range of $57.49 to $57.94. At the close on the 21st, spot gold was at $4,140.82, up 0.38 percentage points, while silver was at $57.9753, up 0.07 percentage points. Gold briefly surged during the session.
Event: On the 21st local time, Russia said it was prepared to resume Russia-US-Ukraine trilateral talks in November. Ukrainian President Zelenskyy said he supported launching them as soon as possible, while US President Trump said the end of the Russia-Ukraine conflict had never been closer. On the same day, the US Treasury announced a new round of sanctions on Iran, targeting law firms in Panama and Greece, shipping agencies in Singapore and the UAE, and a group of cargo vessels generating revenue for Iran. Two US officials said the US military had recently been quietly reducing troop numbers at its bases in Jordan, Qatar, and Kuwait.
Reason: Expectations of peace talks and escalating sanctions emerged on the same day, with geopolitical pricing reflecting both escalation and easing. On the 20th, two oil tankers struck mines in the Strait of Hormuz. The US Strategic Petroleum Reserve has fallen to its lowest level in 44 years, and the US energy secretary said Gulf oil flows had recovered to 80 percent of pre-conflict levels. Iran's new defense minister said the country was ready for a fourth round of war, while Iran's president stressed that the US must lift sanctions before negotiations can begin.
Impact and beneficiary assets: Oil prices surged before retreating early on the 22nd. Brent briefly climbed above $111.32 and was last quoted at $110.163; $CL was quoted at $98.02. Energy and oil shipping benefit from the risk premium, but a resumption of peace talks would compress that premium. CL was quoted at $98.02. Energy and oil shipping benefit from the risk premium, but a resumption of peace talks would compress that premium. $BZ faces resistance at $111.32 and $114, with support at $107.68 and $105. Elevated oil prices weigh on risk assets through the inflation channel, providing the macroeconomic backdrop for Bitcoin's early-morning surge and retreat.
7 Gold and silver fell early on the 22nd, with gold retreating to $4,127
Event: Early on the 22nd, spot gold was quoted at $4,126.98, down 0.34 percentage points from the previous close of $4,141.10. Its early-morning range was $4,122.04 to $4,143.89. Spot silver was quoted at $57.51, down 0.76 percentage points from the previous close of $57.95, with a range of $57.49 to $57.94. At the close on the 21st, spot gold was at $4,140.82, up 0.38 percentage points, while silver was at $57.9753, up 0.07 percentage points. Gold briefly surged during the session.