Analysis of movements coincided with Iran’s state media reporting at 13:30 GMT that indirect talks with the United States had ended “for now,” without further details.
Iran’s FM Araghchi, while addressing the media, said that although there were indirect talks, there were no direct face-to-face talks. Only the Omani foreign minister was conveying messages between the diplomats from the U.S. and Iran.
Therefore, the fact that the second meeting lasted so long seems a positive sign, as they believe that if there had been a deadlock, perhaps they wouldn’t have had a second meeting.
Iran’s FM has told the country’s official IRNA news agency that the Iranian delegation in Oman today stressed that any nuclear talks must take place “without threats”.
“The prerequisite for any dialogue is to refrain from threats and pressure,” Araghchi said. “We raised this point clearly today, and we expect it to be adhered to to allow for the continuation of the talks.”
As we’ve been reporting, ahead of the discussions in Oman, US President Trump had repeatedly threatened to attack Iran as he ordered a US military buildup in the Gulf region, spurring fears of a possible confrontation.
On the other hand, Omani Foreign Minister, Badr Albusaidi, says his country mediated “very serious talks” between Iran and the US today.
“It was useful to clarify both Iranian and American thinking and identify areas for possible progress,” Albusaidi wrote on social media.
“We aim to reconvene in due course, with the results to be considered carefully in Tehran and Washington,” he added, without providing an exact timeline for when the next round of discussions might take place.
Undoubtedly, despite this cautious optimism, major disagreements remain. Iranians insisted the talks were limited to the nuclear programme. They continued to assert that Iran retains the right to uranium enrichment on its own soil and will not transfer enriched uranium beyond 400 kilograms.
Americans, however, were pushing for a broader package that includes Iran’s missile program, energy exports to China, and its relations with regional allies, which Iran considers off the table.
I observed that till this meeting ended without any defined deadline for the next meeting, now the gold and silver futures seem to be waiting for any cue from Trump’s reactive statement on the outcome of this meeting, as the gold and silver futures remain silent now.
After this meeting, gold futures are holding above the 9 EMA ($4,936) but still below the immediate resistance at $5,018, indicating the futures look strengthening after finding a strong reversal above the 50 EMA ($4,590), currently trading at $4,968 after testing the day’s low at $4,671.74 in a daily chart.
While the silver futures, despite finding a reversal after testing the significant support 100 EMA ($62.957), are trading just above the 50 EMA ($74.775), the futures could face significant resistance at the 20 EMA ($85.636) and the 9 EMA ($85.366).
On the other hand, the spot gold and silver ratio (), after testing the day’s high at 72.77, is trading near the day’s low at 64.51, supporting a surge in gold and silver futures, but I find the spot gold and silver ratio is likely to take a strong reversal from these levels.
In conclusion, I anticipate that the gold and silver futures could experience a strong sell-off on Monday, if the U.S. President remain silent during these weekends, as any positive or negative reaction from his end could surge indecisiveness in gold and silver prices.
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Disclaimer: Readers are advised to take any position in gold and silver at their own risk, as this analysis is based only on observations.
