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Gold bounces off two-week low as USD bulls turn cautious ahead of US CPI, Fed's Warsh
Gold (XAU/USD) recovers slightly from a nearly two-week low, touched during the Asian session on Tuesday, and climbs back above the $4,000 psychological mark, though the upside potential seems limited.Fxstreet
Tue, Jul 14
Iran’s IRGC says cooperation with 'aggressor enemy' in Hormuz will delay reopening of waterway
The Iranian Islamic Revolutionary Guards Corps (IRGC) said on Tuesday that two 'offending supertankers' were hit and disabled in the Strait of Hormuz. IRGC said that tankers ignored warnings, turned off navigation systems and tried to pass through 'mined route.’Iranian missiles hit two UAE tankers in Hormuz — Reuters
The United Arab Emirates (UAE) Ministry of Defence said that two UAE national tankers, the Mombasa and Al Bahiyah, were targeted by two Iranian cruise missiles in the southern lane of the Strait of Hormuz, in Omani territorial waters, Reuters reported on Tuesday.Fxstreet
Mon, Jul 13
Gold tumbles below $4,000 on Trump’s Iran port blockade move, US CPI data looms
Gold price (XAU/USD) remains under selling pressure near $3,995 during the early Asian session on Tuesday. The precious metal extends its downside as renewed US-Iran tensions keep inflationary pressures high.Fxstreet
Mon, Jul 13
Gold declines as renewed US-Iran hostilities boost Oil prices, Fed rate hike bets
Gold (XAU/USD) starts the week on the back foot as renewed tensions in the Middle East lift Oil prices and bring inflation concerns back into focus, reinforcing expectations of a Federal Reserve (Fed) interest rate hike later this year.Fxstreet
Mon, Jul 13
Oil: Markets price renewed Hormuz risks – Rabobank
Rabobank strategist Michael Every discusses rising geopolitical risks around the Strait of Hormuz after the apparent collapse of a US-Iran memorandum of understanding. Every notes both sides are now striking each other, with United States (US) strategy shifting to escorted energy flows.Fxstreet
Mon, Jul 13
Brent: Geopolitics lift prices as speculators stay cautious – ING
ING analysts Warren Patterson and Ewa Manthey note that Brent Oil prices have risen sharply as tensions escalate in the Persian Gulf and transit through the Strait of Hormuz slows. They highlight that speculators have trimmed net long positions in ICE Brent despite higher prices.Fxstreet
Mon, Jul 13
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