Materials Down as U.S. Dollar Gains -- Materials Roundup
Express News | Trump announces extension of ceasefire with Iran
Trump stated that he would not extend the ceasefire and threatened to resume bombing Iran. Reports indicate that Iran will not participate in the negotiations scheduled for the 22nd, and Vance has postponed his attendance.
After Trump's threat of bombing, the three major U.S. stock indices turned to losses. After news spread that Vance postponed his trip, the three major indices hit new daily lows. A member of Iran's parliamentary presidium stated that there would be no second round of negotiations until the maritime blockade is resolved; an Iranian parliamentary official mentioned that if diplomatic language proves ineffective, they will choose to continue hostilities. Pakistani sources claimed that relevant U.S. negotiators have arrived in Pakistan one after another; American media reported that Vance is still in Washington and will attend a White House meeting, while his delay in traveling to Islamabad is due to internal Iranian disagreements over whether to participate in a new round of peace talks.
Gold, Silver Futures Fall Pre-Bell Ahead of Iran's Formal Confirmation to Attend Peace Talks in Pakistan
Silver breaks through the key resistance level of 80 USD; is a catch-up rally underway?
Boosted by the news of the reopening of the Strait of Hormuz, silver prices accelerated upward, breaking through the key resistance level of 80 USD and reclaiming the 50-day moving average. Analysts noted that silver is showing early signs of recovery in terms of positioning, capital flows, and volatility.
Iran has set conditions for passage through the Strait of Hormuz and is currently working with the U.S. on a framework for a peace agreement, warning that it will close the strait if the U.S. continues its maritime blockade.
The conditions include: civilian vessels passing through designated Iranian routes; military vessels remain prohibited; all ships must obtain permission from the Iranian navy. Iranian officials stated that Iran and the U.S. are drafting a memorandum of understanding to establish an overarching framework for a final, permanent peace agreement, with the memorandum setting a 60-day window for follow-up negotiations. They expressed optimism about signing the memorandum during talks in the coming days. The Iranian Foreign Ministry noted that the U.S. maritime blockade violates the ceasefire agreement and warned of necessary countermeasures if the blockade continues. Iran also rejected transporting enriched uranium abroad. The U.S. military reiterated its close monitoring of 'every Iranian port' and, for the first time, disclosed the location of the maritime blockade line, which covers all of Iran's southern coastline and ports.