08.07.2026 12:10
US President Donald Trump's announcement that the agreement with Iran has officially ended and Washington's overnight air operation against Iran have caused an earthquake effect in global markets. With geopolitical risks peaking, oil prices surged over 5 percent, while the ounce price of gold fell below $4,100.
Global markets are experiencing sharp fluctuations following consecutive hot developments between the US and Iran. The temporary peace agreement between the US and Iran has given way to a renewed environment of violent conflict.
TRUMP: THE DEAL WITH IRAN IS OVER FOR ME
US President Donald Trump made very harsh statements regarding the latest developments along the Washington-Tehran line. Completely burning diplomatic bridges, Trump said, "The deal with Iran is over for me. I no longer want to negotiate with them," directly impacting risk appetite in the markets.
SHARP RISE IN OIL PRICES, DECLINE IN GOLD
Trump's statements and the rising geopolitical tension immediately found a response in energy and precious metal markets:
The rise in Brent and West Texas Intermediate (WTI) crude oil prices has gained momentum. Both benchmark oil types appreciated by over 5%. With this latest shock, the total weekly increase in Brent oil prices has exceeded 8%.
In contrast to the upward rally in energy markets, the spot price of gold declined, falling below the $4,100 level.