Progress in US-Iran nuclear talks led to a rapid drop in oil prices, a short-term rally in gold and silver, and collective gains in US stock indices.

BlockBeats news, November 10 - According to Bitget market data, international crude oil prices rapidly fell by more than $1.5, while gold and silver saw short-term gains. At the same time, U.S. stock gains expanded, with the Nasdaq 100 up 3.4% intraday, the S&P 500 now up 2.47%, the Dow up 2.36%, and the Nasdaq up 2.82%.

On the news front, Saudi Arabia's Al Arabiya TV, citing Arab sources, reported that a proposal put forward by Qatar and Pakistan has reactivated substantive negotiations between the United States and Iran. The two sides are expected to reach a preliminary agreement on Iran's uranium enrichment issue.

The sources also said that under the proposed agreement framework, the Strait of Hormuz will be immediately reopened and the maritime blockade will be lifted; the United States will release $6 billion to $9 billion in Iranian assets after the agreement is reached.