Oil rises over 2% as gold falls

Oil prices rose by more than 2% due to tensions in the Strait of Hormuz, while gold prices declined amid escalating concerns over global oil supplies. These market fluctuations are a result of unrest in the region, which threatens the availability of oil and heightens geopolitical risks, thereby temporarily supporting oil prices. Conversely, gold prices fell as risk aversion increased, as gold is typically considered a safe haven during periods of instability.

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