Spot gold's gains narrowed to less than 1% intraday as Iran's foreign minister said that communicating with the US through intermediaries did not mean negotiating with the US.

1. Trump says he will study possible agreements to resolve the government shutdown: He says he will study possible agreements reached in the Senate regarding the government shutdown. Lawmakers are quite close to reaching an agreement on the government shutdown. Let's see if a settlement can be reached. 2. Trump says Iran gave us a big gift related to oil and gas: He says Iran "gave us a very big gift," worth "a lot of money." Iran's "gift" is "oil and gas related" and involves the Strait of Hormuz. 3. Trump says Iran has agreed never to possess nuclear weapons: According to foreign media reports, Trump said Iran has "begun rational communication" and has agreed to "never possess nuclear weapons." He also said that special envoys Kushner and Witkov received assistance from Secretary of State Rubio, Vice President Vance, and others during the negotiations. 4. Trump says he is communicating with "the right people" in Iran: Trump said the US is communicating with "the right people," and Iran "wants an agreement"; he also said Iran "has no leadership" and that the US has had "great success" on the Iran issue. 5. Poll Shows Trump's Approval Rating Drops to Lowest Level Since Returning to the White House —A Reuters/Ipsos poll shows US President Donald Trump's approval rating has fallen to 36%, the lowest level since returning to the White House. Amid soaring gasoline prices, only a quarter of Americans approve of Trump's handling of the cost of living. 6. Plans to Ease Summer Gasoline Sales Restrictions —According to sources familiar with the matter, the Trump administration is preparing to create conditions for expanding summer sales of high-ethanol E15 gasoline by exempting it from summer gasoline volatile organic compound (VOC) restrictions. Anonymous sources said the Environmental Protection Agency plans to brief industry stakeholders on the plan Wednesday morning. 7. Hints at Saudi Crown Prince's Support for War Against Iran —According to foreign media reports, Trump appears to have confirmed reports that Saudi Crown Prince Mohammed bin Salman has been pushing for continued warfare against Iran. On Tuesday, when asked about this by a reporter, Trump said, "Yes, he's a fighter. He's fighting alongside us." 8. Retweeted a post from the Pakistani Prime Minister expressing willingness to act as a mediator —Trump retweeted a post from the Pakistani Prime Minister on social media, which stated: "With the consent of the United States and Iran, Pakistan stands ready and is honored to host substantive and conclusive negotiations aimed at a comprehensive resolution of the current conflict." 9. Bill limiting Trump's war powers rejected again by the US Senate —On the 24th, the US Senate voted to reject a bill aimed at preventing President Trump from launching further military action against Iran without congressional approval. This is the third time since the US and Israel launched a joint military strike against Iran in late February that the Senate has failed to pass a bill aimed at limiting Trump's power to use force against Iran.

[Futures Hot Topic Tracking] Is the comparative advantage shifting? If Brazilian soybean costs continue to soar, can US soybeans take the lead after 2026?