Commodities like gold, silver and oil are on the back foot this morning as markets digest the weekend's Trump/Putin meeting.
There were no major breakthroughs, no concessions, which means there isn't a whole lot for markets to get excited about. However, Oil started the week with a gap to the downside, and as the Asia-Pac session has progressed, we've seen some downside in gold and silver as well.
For oil, the move makes sense to some degree, as the meeting saw a pause from the Trump administration in terms of targeting secondary tariffs for importers of Russian energy.
When it comes to gold and silver, the reaction function to this is less clear.
