Await whether Iran and Oman can successfully reach an agreement on the passage of merchant ships through the Strait of Hormuz.
Investors are currently cautiously watching whether Iran and Oman can reach an agreement on the passage of merchant ships through the Strait of Hormuz, which could alleviate concerns about the closure of the waterway. If this agreement is finalized and oil prices subsequently decline again, investors’ risk-averse appetite for buying gold at lower prices should be boosted, which would be beneficial for gold prices to rise repeatedly. Additionally, if the latest US non-farm payroll data released later tonight is significantly… … »Await whether Iran and Oman can successfully reach an agreement on the passage of merchant ships through the Strait of Hormuz.