Markets exhibit cautious optimism ahead of a key ceasefire deadline in US-Iran negotiations, driving oil prices lower despite persistent geopolitical risks around the Strait of Hormuz. The decline in Brent and WTI crude signals reduced risk premium as investors price in potential easing of tensions. Equity markets in Europe and the US show modest gains, reflecting this improved sentiment. However, gold remains subdued, capped by a neutral Fed outlook limiting safe-haven demand. Meanwhile, silver's stronger performance suggests selective appetite within precious metals. Traders should monitor US-Iran developments closely, as any shifts could quickly alter risk sentiment and commodity trajectories.