[MARKET ANALYSIS] Precious metals pull back from ATHs, with spot XAU finding resistance at USD 4600/oz; Crude benchmarks oscillate in tight ranges amid quiet newsflow
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Crude futures oscillate in tight ranges amid a lack of geopolitical updates regarding the US-Iran situation. CBS News did report that US President Trump has been briefed on military and covert options against Iran, but no final decision has been made. -
Precious Metals (XAU, XAG) have pulled back from their record highs reached in Monday’s session as traders take some profit ahead of the US CPI report. After peaking at a new ATH of USD 4630/oz, spot XAU pulled back and has found resistance back below USD 4600/oz. -
Base Metals trade mixed, with 3M LME Copper posting modest gains (+0.4%), as the red metal consolidates above USD 13k/t. This comes amid worries that the recent gains in copper may sharply pull back if demand for the metal slows in 2026.
13 Jan 2026 - 03:14- MetalsGeopolitical- Source: Newsquawk
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