Phillip Streible analyzes the recent 3.1% surge in Gold futures, which briefly topped $4,888 following the announcement of a conditional ceasefire with Iran. He notes that gold rose alongside equities as lower oil prices impact inflation expectations and real yields. Streible outlines key technical levels, including $4,930 and $5,000 on the upside, and $4,740 on the downside. The discussion also covers shifting Fed rate cut expectations, highlighting a 21% probability of a 25 bps cut at the September meeting, a drastic change from prior expectations of unchanged rates. Traders will monitor the upcoming FOMC minutes and Friday's CPI report. Additionally, Copper and Silver futures tracked higher, driven by structural demand from AI data centers and electrification needs.