In Asian trading, gold and silver prices experienced a decline as optimism surrounding a potential peace agreement between the United States and Iran overshadowed the impact of ongoing military actions. US forces executed strikes in southern Iran, targeting missile launch sites and boats allegedly laying mines, while Iran's Islamic Revolutionary Guard Corps (IRGC) reportedly retaliated by targeting a vessel at sea. Despite these military exchanges, negotiations continued in Doha, where Iran's chief negotiator and foreign minister engaged with Qatar's prime minister. Secretary of State Rubio confirmed that discussions focused on finalizing the language of an initial framework agreement, which could be resolved in a few days. This paradox of simultaneous conflict and diplomacy led markets to conclude that a deal is more likely. However, analysts cautioned that even with a signed agreement, the restoration of oil supplies would be delayed due to significant damage to production facilities during the three-month conflict. Thus, while gold and silver may reflect the potential end of hostilities, the oil market remains cautious.