"Apart from Micron's earnings report being the main focus, tonight we saw gold drop below 4000, silver below 60, and WTI crude oil below 70—all essentially being repriced around the Iran peace developments. No need to overthink the oil price drop—temporary peace between the U.S. and Iran has maxed out peace expectations, squeezing out the war risk premium. The drop in oil prices brings down inflation expectations, combined with the Fed's three rate hike projections, which is why gold is falling. Silver is essentially a magnified version of gold's movements—gold drops, so silver drops too. Rising rate hike expectations have strengthened the U.S. dollar index, while U.S. Treasury yields are declining. These factors together have led to the drop in gold, silver, and oil. Once psychological round-number levels and technical support levels are breached, quant funds automatically close positions, which amplifies the volatility. In short, the Iran peace dividend is being reflected as a strong dollar + low inflation expectations, and gold, silver, oil, stocks, and crypto are all being repriced accordingly. This content is sponsored by @BITstocks_CN. Trade U.S. stocks on BIT—16,000+ U.S. stocks and ETFs, real holdings, and enjoy dividend payouts.