Gold Holds Decline as Trump Reinstates Blockade

2026-07-13 23:59 By Jam Kaimo Samonte 1 min. read

Gold held just below $4,000 an ounce on Tuesday after tumbling nearly 3% in the previous session, as President Donald Trump reinstated a blockade on Iranian vessels transiting the Strait of Hormuz and sought reimbursement from countries benefiting from US efforts to secure the vital shipping lane.

The move drove oil prices sharply higher, reviving concerns over inflation and the interest rate outlook.

The measures followed renewed hostilities between Washington and Tehran, with the US targeting Iran’s ability to disrupt maritime shipping while Tehran retaliated against US allies in the region.

Investors also awaited key US inflation data and Federal Reserve Chair Kevin Warsh’s testimony before the US Congress later today, with markets closely parsing his remarks for further policy guidance.

Markets now price in roughly a 51% chance of a Fed rate hike in September, compared with a 23% probability that the central bank will leave rates unchanged.



News Stream
Gold Holds Decline as Trump Reinstates Blockade
Gold held just below $4,000 an ounce on Tuesday after tumbling nearly 3% in the previous session, as President Donald Trump reinstated a blockade on Iranian vessels transiting the Strait of Hormuz and sought reimbursement from countries benefiting from US efforts to secure the vital shipping lane. The move drove oil prices sharply higher, reviving concerns over inflation and the interest rate outlook. The measures followed renewed hostilities between Washington and Tehran, with the US targeting Iran’s ability to disrupt maritime shipping while Tehran retaliated against US allies in the region. Investors also awaited key US inflation data and Federal Reserve Chair Kevin Warsh’s testimony before the US Congress later today, with markets closely parsing his remarks for further policy guidance. Markets now price in roughly a 51% chance of a Fed rate hike in September, compared with a 23% probability that the central bank will leave rates unchanged.
2026-07-13
Gold Slumps Over 2% as Middle East Tensions Fuel Rate Hike Fears
Gold fell more than 2% to $4,020 per ounce on Monday, marking a second consecutive day of losses, as escalating Middle East conflicts heightened inflation concerns and reinforced expectations that US interest rates will remain elevated for longer. Over the weekend and into Monday, US and Iranian forces exchanged heavy missile and drone attacks. Tehran claimed it had targeted US military facilities across the Gulf and closed the Strait of Hormuz, pushing oil prices up by over 4%. In response, investors increased bets on Federal Reserve rate hikes, with markets pricing in a nearly 70% chance of a September increase. Meanwhile, Fed Chair Kevin Warsh is set to deliver his first monetary policy testimony before Congress on Tuesday, with markets closely analyzing his remarks for further policy signals. Additionally, the US will release key economic data this week, including June’s consumer price index and retail sales figures.
2026-07-13
Gold Falls on Renewed US-Iran Strikes
Gold slipped below $4,100 an ounce on Monday, remaining under pressure as renewed missile strikes between the US and Iran drove oil prices higher, fueling expectations of interest-rate hikes to curb inflation. The US carried out its fourth strike in a week against Iran on Sunday in retaliation for an Iranian attack on a Cyprus-flagged container ship. Tehran declared that the Strait of Hormuz would be closed "until further notice," though the claim was dismissed by the US Central Command. Investors are also awaiting key US inflation data due this week for further clues on the Federal Reserve's policy outlook. Markets currently expect the Fed to deliver one more interest-rate hike before the end of the year. Meanwhile, Fed Chair Kevin Warsh is scheduled to make his first appearance before the US Congress on Tuesday.
2026-07-12