Gold prices dropped significantly on Monday. A stronger US dollar and reduced expectations of Federal Reserve interest rate cuts pressured the precious metal. Geopolitical tensions in the Middle East, particularly concerning Iran and the Strait of Hormuz, also influenced market sentiment. Higher oil prices raised inflation concerns, impacting gold’s appeal as an inflation hedge.Read More
The dollar remained steady as the yen neared 160 against the dollar amid escalating Iran conflict. President Trump issued a Tuesday deadline to reopen the Strait of Hormuz, threatening strikes on Iranian infrastructure. Investors are treating the situation as an oil-to-inflation-to-rates problem, favoring the dollar as a safe haven.Read More
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