Gold hits high amid Strait of Hormuz hopes
Oil prices fell amid hopes of opening the Strait of Hormuz, while the dollar rose to its highest level in a week after the United States resumed its attacks on Iran. Gold also dropped by more than 1% due to rising oil prices and growing fears of closing the Strait of Hormuz. Concurrently, shipping data showed the highest weekly number of vessels passing through the Bab el-Mandeb Strait. Meanwhile, tensions in Gaza continued, with 12 martyrs and injured individuals reported from ongoing airstrikes, amid Israel’s politicization of the UNRWA decision to dismiss staff members.
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