Gold and Silver Slide as U.S.–Iran Geneva Talks Ease Safe-Haven Demand; Markets Await Fed Minutes and PCE
Gold, Silver Tumble After U.S.–Iran Geneva Progress; Fed Minutes in Focus Gold and silver sold off sharply on February 17–18, 2026 , as markets interpreted new momentum in U.S.–Iran nuclear talks in Geneva as a sign of easing geopolitical risk—reducing demand for traditional safe havens. Recent pricing highlighted the move: Spot gold slipped below $4,900/oz , with reports showing levels around $4,880s on Feb 17. Silver dropped harder, trading around $73 with intraday lows near $72 —a steep one-day decline. The tone across markets: less fear, less hedge demand —at least for now. What Drove the Sharp Drop in Gold? 1) Geneva “Progress” Triggered a Classic Safe-Haven Unwind Multiple outlets reported constructive progress and agreement on “guiding principles,” with both sides expected to return with more detailed proposals in about two weeks . That narrative matters because gold’s strongest rallies often come when investors are pricing geopolitical tail risk . When tensi...