Gold price (XAU/USD) is up 1.5% to near $4,067 during the European trading session on Tuesday. The precious metal outperforms as the rally in oil prices has stalled, with investors turning confident that negotiations between the United States (US) and Iran towards peace have resumed.

GBP/USD remains weaker for the fourth consecutive day, trading around 1.3430 during the European hours on Tuesday. The technical analysis of the daily chart indicates a prevailing bullish bias as the pair remains within the ascending channel.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the previous day's late rebound from the $79.50-$79.45 area and trades with a negative bias through the first half of the European session on Tuesday.

Here is what you need to know on Tuesday, July 21:

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.00 during the early European trading hours on Tuesday. The WTI declines but remains near multi-week highs as traders continue to assess the developments surrounding the US-Iran conflicts.

The EUR/USD pair is seen consolidating during the Asian session on Tuesday and trading just above the 1.1400 mark, or a four-day low touched the previous day.

Silver (XAG/USD) attracts buyers for the third straight day and climbs back above the $57.00 mark during the Asian session on Tuesday.

The Swiss Franc loses ground against the Greenback in a trading session marked by CHF weakness amid improving risk appetite. At the time of writing, the USD/CHF trades at 0.8101, up 0.32%.

Silver (XAG/USD) trades on the front foot on Monday as buyers defend the $55.00 mark after the metal briefly slipped below it on Friday, touching its lowest level since December 2025. At the time of writing, XAG/USD trades around $56.85, up nearly 1.50% on the day.

West Texas Intermediate (WTI) US Oil trades around $81.30 on Monday at the time of writing, down 0.54% on the day as investors take some profits following the commodity's sharp rally in recent weeks.