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Crude Oil prices are hovering near 10-day lows, with upside attempts limited below the $98.00 line on Friday, on track to a nearly 4% weekly decline.

Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.

Silver price (XAG/USD) faces selling pressure near $76.00 during the European trading session on Friday. The white metal trades lower due to uncertainty over whether the United States (US) and Iran will reach a deal.

Deutsche Bank’s Jim Reid notes that improved sentiment around a potential Iran deal helped the S&P 500 recover earlier losses and close slightly higher.

Here is what you need to know on Friday, May 22:

AUD/USD extends its losses after a slight decline in the previous day, trading around 0.7140 during the Asian hours on Friday.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – remains on the back foot for the third consecutive day and trades around mid-$96.00s during the Asian session on Friday.

EUR/JPY remains flat for the second consecutive day, trading around 184.70 during the Asian hours on Friday.

Silver (XAG/USD) struggle to make it through the 23.6% Fibonacci retracement level of the recent fall from the monthly swing high and attracts some sellers during the Asian session on Friday.

Gold (XAU/USD) keeps looking for direction on Thursday, showing marginal losses within the weekly range. Upside attempts remain limited below $4,580, with bears contained above the $4,455 area.