Gold and silver decline! Iranian president outlines three main conditions to end the war

On March 12, the market opened lower for gold and silver. As of the latest report, international spot gold is at $5,142.84 per ounce, down 0.65%; spot silver is at $84.723 per ounce, down 1.17%.

Tensions in the Middle East have escalated, leading to increased shipping risks through the Strait of Hormuz. International oil prices surged, and multiple countries agreed to release strategic oil reserves. The International Energy Agency issued a statement on the 11th, saying that 32 member countries unanimously agreed to release 400 million barrels of strategic oil reserves to address the global oil supply tightness caused by U.S. and Israeli military strikes on Iran.

To respond to high oil prices, U.S. President Trump announced he would utilize the U.S. Strategic Petroleum Reserve. On the 11th local time, the U.S. Department of Energy stated that Trump authorized the department to release 172 million barrels of crude oil from the strategic reserves starting next week. At the planned release rate, this oil will be delivered over approximately 120 days.

A spokesperson for Iran’s Hatham Amnia Central Command of the armed forces stated that the Strait of Hormuz is unquestionably always under Iran’s control.

In the early hours of the 12th local time, the Iranian Islamic Revolutionary Guard Corps issued a statement saying that during Operation “Real Commitment 4,” the IRGC launched missiles including “Qader,” “Emad,” “Hezbollah Shakan,” and “Fatah.” In coordination with Hezbollah in Lebanon launching numerous attack drones and missiles, they targeted over 50 locations across Israel from north to south, creating a “new battlefield reality” for Israel. Additionally, U.S. military bases in Jordan and Saudi Arabia were also struck by IRGC missiles.

The statement also noted that, as Israeli media pointed out, the number of missiles fired from Iran toward Israel has significantly increased in the past 24 hours, with casualties on the Israeli side also rising. The statement emphasized that Iran’s “deadly strikes are ongoing.”

The Israel Defense Forces issued a statement early on the 12th local time, announcing a large-scale attack targeting locations in Tehran, Iran.

On the 11th local time, Trump stated that “almost no targets remain to be struck” within Iran, and that U.S. military actions against Iran are “nearing an end.” However, U.S. and Israeli officials have said that no internal orders to cease military operations have been received so far.

Iranian President Ebrahim Raisi proposed three essential conditions to end the war, demanding compensation from the U.S. and Israel. Raisi stated that the “only way” to end the current war provoked by the U.S. and Israel is to recognize Iran’s legitimate rights, pay war reparations, and have the international community provide firm guarantees to prevent future aggression.

Compiled from: CCTV News and others

(Edited by: Wen Jing)

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