Rate Hike Expectations

Iran Market Pulse: Friday Midday, July 31, 2026; Gold, Silver, Platinum and Palladium All Turned Red Together

This morning silver was the only green metal on the global board; by midday it had turned red too. As of 11:00 on Friday, 9 Mordad 1405 (31 July 2026), spot gold trades near $4,075 (down 0.9 percent) and spot silver near $58 (down 1.8 percent), with platinum and palladium also lower. It happens in a month when Brent has gained more than 20 percent. The reason for the contradiction sits in Washington: markets are pricing a rate hike, not a cut.