Shouchuang Futures: Repeatedly driven by negotiation expectations, gold and silver fluctuate and rebound

The core factor driving the oscillation and rebound in precious metals is the repeated swings in expectations for US-Iran talks. On the geopolitical front, U.S. President Donald Trump said the U.S. could restart a new round of US-Iran negotiations as early as Friday, but Iranian media responded that no decision has been made and accused Trump of lying. Meanwhile, the White House clarified that no deadline has been set, and Trump said there is “no timetable” to end the conflict. Pakistani officials said they received positive signals from Iran indicating willingness to restart face-to-face negotiations, but Iran’s shifting stance has limited the room for a rebound. This interwoven flow of bullish and bearish geopolitical signals has kept market sentiment volatile, and precious metals prices have therefore remained range-bound. At the same time, the U.S. Dollar Index strengthened yesterday, which to some extent weighed on gold prices denominated in U.S. dollars. In the short term, it is not suitable to take a one-sided position; it is recommended to wait and see. (Chuangchuang Futures)