Gold Rises to One-Month High Amid Iran's Declaration on Hormuz Strait
Gold surged to a one-month high as Iran announced the Strait of Hormuz is 'completely open' to commercial traffic, easing tensions in the region. The move follows a ceasefire in Lebanon and has led to a weaker U.S. dollar and lower Treasury yields, which are favorable for gold. However, uncertainty remains due to conflicting reports about the actual status of the strait.
Topics: commodity markets geopolitical tensions gold prices iran strait of hormuz