Gold futures fell 1% to $4,675 an ounce after a string of lower sessions, while silver slipped 1.8% to $75.003. Tehran’s latest cease‑fire offer and the war’s uncertainty weighed on precious metals, sending risk‑off sentiment into the market.

Against this backdrop, lithium miner IGO saw its shares slide 18% after a production downgrade. The company’s exposure to the Greenbushes mine keeps analysts optimistic, though its share price now sits at A$7.01, a lithium value of $1,150 per ton—half the spot price.

IGOs shares rebounded 5.1% to A$7.37, narrowing the gap to the 10% lower long‑term price assumption of $1,350/ton. The drop underscores the volatility investors face when resource quality meets market pricing.

These moves highlight how geopolitical risk and commodity valuation shifts can quickly ripple through both gold and lithium sectors, reshaping investment strategies in a tight‑margin environment.