11.05.2026 08:42
Tensions have risen again in talks between Iran and the US to end the war. After Iran's demands and US President Donald Trump's "unacceptable" statement, oil prices have started to rise again. Brent crude began the new week with a nearly 5% increase, reaching the $105 level. While concerns that oil could rise further dominate the markets, there was also movement in gold and silver prices.
Oil prices closed last week down 8.2% due to the impact of a "protected ceasefire" and "hopes for a permanent agreement". However, harsh statements from Iran and the US have once again raised tensions in the market.
In global markets, Brent crude oil started the new week at $105 per barrel. An increase of approximately 5% compared to last week's close drew attention.
TRUMP: UNACCEPTABLE
It was reported that Iran conveyed its response to the US proposal to end the war through Pakistan. The Tehran administration stated that negotiations would focus on ending the war.
US President Donald Trump, in his statement evaluating Iran's response, used the words, "I didn't like it, it's completely unacceptable."
STRAIT OF HORMUZ AND SANCTIONS DEMAND
According to Iran's semi-official news agency Tasnim, the Tehran administration demanded the lifting of the American blockade in the Strait of Hormuz. Iran also demanded an immediate end to the war on all fronts, a guarantee of non-aggression, and the removal of sanctions banning oil sales within 30 days.
The US side's assessment of Iran's proposal as "unacceptable" has once again increased pressure on oil prices. Concerns that oil could rise further dominated the markets.
"NO ONE IN IRAN IS PLANNING TO PLEASE TRUMP"
An Iranian official responded harshly to Trump's statements. The official said, "Trump's response changes nothing. If he is unhappy, that's even better. No one in Iran is planning to please Trump. The negotiation team only prepares plans for the Iranian people. Trump doesn't like realities; that's why he constantly loses against Iran."
LATEST IN GOLD AND SILVER
Expectations that tensions between the US and Iran could ease, along with a decline in the dollar index, supported precious metals. Gram gold traded at 6,836 TL, while quarter gold traded at 11,176 TL, half gold at 22,345 TL, and Republic gold at 46,042 TL. The ounce gold price stood at $4,686. On the silver front, the gram price traded at 117.86 TL, and the ounce silver price at $80.76.