Extending yesterday’s surge, gold prices have soared on Wednesday after U.S. President Donald Trump reassured that Iran would strike a deal with the U.S. and reopen the Strait of Hormuz soon. With supply concerns abating, crude oil prices slumped, reducing U.S. rate hike concerns due to oil-linked inflationary pressure.
Front Month Comex Gold for September month delivery has surged by $143.20 (or 3.49%) to $4,250.70 per troy ounce.
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Market Analysis
Gold Surges As Trump Reassures On Chances Of An End To Strait Of Hormuz Crisis
2026-08-05 17:36:57
