The Federal Reserve’s decision to hold rates at 3.50% to 3.75% while signaling a continued focus on price stability has shifted market momentum. With the central bank leaning toward a higher-for-longer policy stance, non-yielding assets like gold and silver face significant headwinds. Gold futures have now retreated to their lowest levels since November, tracking a broader selloff that hit both crypto and hard assets as rate-sensitive trading dominates the current landscape.

Simultaneously, the risk premium on oil has evaporated following a U.S.-Iran memorandum that eased fears of a total blockade in the Strait of Hormuz. As crude flows resume, Brent prices slid toward $73.87 a barrel, removing a key pillar of support for gold’s haven status. Market analyst Muhammad Umair points to the $3,950 to $4,000 range as the critical support zone for gold; a failure to hold this level could expose a deeper decline toward $3,850. Meanwhile, silver bears are eyeing a break below $55.00, signaling that the current de-escalation in energy markets is driving a rapid reallocation of capital away from precious metals.