Various-Ceasefire/Market Reax
Various-Ceasefire/Market Reax
Dateline : April 8, 2026/File
Location : Various
Duration : 1'22
FILE: Kharg Island, Iran - March 10, 2016 (CCTV - No access Chinese mainland/Al-Arabiya/Persian language TV Stations outside Iran. Strictly No Access BBC Persian/VOA Persian/Manoto TV/Iran International/Radio Farda)
1. Various of oil facilities
FILE: Alberta Province, Canada - January 2025 (CGTN - No access Chinese mainland)
2. Various of land drilling rig in operation
FILE: Texas, USA - Date Unknown (CCTV - No access Chinese mainland)
3. Gas station
4. Various of people fueling cars
FILE: Seoul, ROK - 2025 (CCTV - No access Chinese mainland)
5. Various of gold jewelry, gold bars
FILE: Dubai, UAE - Sept 2025 (CCTV - No access Chinese mainland)
6. Various of counter clerks sorting gold jewelries; gold jewelries on display
FILE: Seoul, ROK - Oct 2025 (CCTV - No access Chinese mainland)
7. Various of silver bars for sale
8. Silver products shown on screen
FILE: Beijing, China - April 2024 (CCTV - No access Chinese mainland)
9. Various of silver coinages, silver ingots for sale
FILE: USA - Exact Location and Date Unknown (CCTV - No access Chinese mainland)
10. Various of U.S. dollar banknotes being printed
FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
11. Various of U.S. dollar banknotes going through cash counting machine
The price of precious metals surged while crude futures plummeted on Tuesday, after a 2-week ceasefire was reached between Iran and the United States.
U.S. President Donald Trump announced that he has agreed to "suspend the bombing and attack of Iran for a period of two weeks." The decision is "subject to" Iran agreeing to the complete, immediate and safe opening of the Strait of Hormuz, he wrote on social media.
On the Iranian side, Foreign Minister Seyed Abbas Araghchi has said that Iran will cease "defensive operations" if attacks against it stop. He also promised safe passage through the Strait of Hormuz during the 2-week ceasefire under "coordination" with Iranian armed forces, saying that Iran will hold negotiations with the U.S. side in Pakistan's capital Islamabad.
With the ceasefire agreement being announced, the NYMEX crude oil futures price plunged from an intraday high near 118 U.S. dollars to below 92 dollars, dropping over 22 percent. Later, the figure has been gradually rebounding back to almost 100 dollars.
In contrast, the price of gold and silver has been soaring. June gold futures on the New York Mercantile Exchange climbed above 4,800 U.S. dollars per ounce, with gains at one point approaching 4 percent. May silver futures surged more than 6.5 percent, topping 76 U.S. dollars per ounce.
The rise of gold price is supported by weakened U.S. dollars and falling oil price. Analysts believe that if the war in Iran stops, the Federal Reserve may cut interest rates by the end of this year, which could further push up the gold price.