US and Iran Reach Agreement, Geopolitical Risks Fall, Oil Prices Drop, Precious Metals Rise

Published: Jun 15, 2026 09:15

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[SMM Precious Metal Express] The US and Iran reached a memorandum of understanding to be formally signed on Friday, June 20, in Switzerland, with an immediate end to all front-line hostilities and free passage through the Strait of Hormuz. Geopolitical risk premiums have fallen sharply. Oil prices plunged at the open, while precious metals gapped higher.

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