Precious Metal and Crypto Stocks Sink After Trump's Blockade Order in Strait of Hormuz

TigerApr 13, 2026 8:51 AM

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Gold prices touched a near one-week low on Monday, pressured by ‌a stronger dollar, while a surge in oil prices following failed U.S.-Iran peace talks fuelled inflation worries and dampened expectations for Federal Reserve interest rate cuts this year.

Precious metal stocks and ETFs fell in premarket trading. ProShares Ultra Silver fell 5%; Coeur Mining, iShares Silver Trust, First Majestic Silver, Kinross, Fortuna Silver Mines, Hecla Mining, Harmony Gold Mining, Newmont Mining, Agnico Eagle Mines, Hycroft Mining, and Pan American Silver fell 2%; Eldorado, Endeavour Silver, Barrick Mining, ProShares Ultra Gold, and Gold Fields fell 1%.

Bitcoin and other major cryptocurrencies fell on Sunday after Trump ordered the naval blockade of the Strait of Hormuz, signaling a potential escalation in the U.S.-Iran conflict. High-level negotiations between the U.S. and Iran failed to result in a resolution earlier on Sunday.

Crypto stocks dropped in premarket trading. TeraWulf, CleanSpark, Riot Platforms, MARA Holdings, and Hut 8 fell 4%; IREN, American Bitcoin, Strategy, Coinbase, BitMine, Keel Infrastructure, Cipher Mining, and SharpLink Gaming fell 3%; Circle, Robinhood, Bullish, and Figure Technology Solutions fell 2%.

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