Oil prices showed modest gains at the start of the week, with Brent crude trading just below $67 per barrel and West Texas Intermediate near $63. Brent fell 1.6% last week. The market is reacting to ongoing uncertainty over US-China trade negotiations, China's economic outlook, and the potential for OPEC+ to increase supply. Conflicting statements from US and Chinese officials about the progress of tariff talks have contributed to volatility. Eight OPEC+ countries, including Saudi Arabia and Russia, are considering accelerating production hikes for June, following a planned increase of 411,000 barrels per day from May. The group is scheduled to discuss supply plans at a meeting on May 5. Brent's prompt spread widened in April, signaling tight near-term supply. Additional factors influencing oil markets include diplomatic developments related to the Russia-Ukraine conflict, ongoing nuclear negotiations with Iran, and an explosion at Iran's Shahid Rajaee port. Silver in India was at Rs 101,800 per kg. Gold prices declined as easing US-China trade tensions reduced demand for safe-haven assets. In India, gold fell by Rs 620 on Monday, dropping below Rs 98,000 per 10 grams. US gold dropped to Rs 94,870 per 10 grams, and silver to Rs 95,964 per kg. Internationally, spot gold decreased by 0.5% to $3,296.86 per ounce, down from its previous record of $3,500.05 per ounce, while US gold futures dropped 0.4% to $3,283.70 per ounce. A stronger US dollar, which rose 0.3% against a basket of currencies, further pressured gold prices. The decline in gold was attributed to increased investor risk appetite amid optimism for a potential US-China trade agreement and profit-booking by large institutions. Silver fell 0.29% to $32.91 per ounce.