Metals Rally as U.S.-Iran Tensions Ease Over the Weekend
Key Takeaways
- •Reduced tensions between the United States and Iran helped lift stock indices and metals at the start of the week.
- •Gold and silver benefited from the easing of geopolitical pressure, while oil prices fell.
- •Epstein said Iran’s use of strategic waterways could lead oil-exporting countries to avoid those routes in the future.
- •Upcoming U.S. data include advanced durable goods orders and the Dallas Federal Reserve’s manufacturing outlook.
- •Epstein said the Federal Reserve is likely to keep interest rates unchanged because the cash market has already adjusted.
Metals Rally as U.S.-Iran Tensions Ease Over the Weekend
Ira Epstein
Ira Epstein said the rally in stock indices and metals is being driven by reduced tensions between the United States and Iran, after hostilities halted over the weekend. He said the easing of geopolitical pressure has supported gold and silver, while oil prices are falling because there is no immediate conflict. For market participants watching the start of the week, that shift in tone matters because geopolitics can quickly alter safe-haven demand and energy pricing, even before any economic data is released.
Epstein also discussed the broader geopolitical implications of Iran’s use of strategic waterways, saying the situation could lead oil-exporting countries to avoid those routes in the future.
On the economic calendar, he pointed to upcoming reports including advanced durable goods and the Dallas Federal Reserve’s manufacturing outlook. He also said the Federal Reserve is likely to leave interest rates unchanged, noting that the cash market has already adjusted.
About the author
Ira Epstein
IraEpstein.com
LINN & Associates
Over the past 35 years, Ira Epstein has built a reputation for providing clients with easy-to-use technology and practical trading instruction. A number of the firm’s brokers have more than 30 years of trading experience. Epstein said that no matter how technology changes the way orders are entered, there is no substitute for having “been there and done that before.” He said the combination of services brings everything together, whether the need is education, market information, or trading platforms.
Epstein began in the futures markets in 1969. Over the years, he worked his way up from a “floor runner” to a Floor Trader. In the mid-1970s, he shifted his career within the industry to develop both retail and commercial client relationships. His customer base grew to the point that in 1984 he founded “Ira Epstein & Company,” a trading firm specializing in retail, commercial, and self-directed discount futures trading. He later became a leader in trading technology out of necessity, as small-lot trade volume increased. He was among the first to embrace the Internet, which he noted has changed both how information is delivered and how trading takes place today.
One way Epstein and his brokers showcase their work is through e-mails containing market information and Ira’s “Futures Videos,” which can be viewed on the website, through Market Center, Linn-IraChart Software, and on YouTube.
IraEpstein.com