Precious Metals Hit by Fresh Volatility; Oil Drops ~2% as US–Iran Talks Lower Risk Premium

Precious metals saw another sharp bout of volatility on Thursday, with silver suffering a renewed steep daily slide and gold also falling as the selloff spread into traditional “safe-haven” assets amid broader market turbulence.

Traders said the moves reflected risk reduction across asset classes, with thin liquidity and fast-changing positioning magnifying intraday swings in both metals.

In energy markets, oil prices fell about 2% after reports that the United States and Iran agreed to hold talks in Oman on Friday, easing fears of supply disruptions and lowering the geopolitical risk premium that had recently supported crude.

What markets are watching next

• Metals: whether forced selling fades and volatility cools, or if another unwind follows.
• Oil: headlines from the Oman talks and any signals on Middle East supply risks.
• Macro backdrop: the U.S. dollar, rate expectations, and broader risk sentiment.

For now, investors remain cautious as cross-market turbulence continues to spill into both “risk” assets and classic defensive hedges.