Overview
- Markets swung Monday after President Trump announced a U.S. naval blockade of the Strait of Hormuz following the weekend collapse of U.S.–Iran talks.
- Brent crude jumped above $100 and the dollar strengthened, which stoked inflation concerns and pulled precious metals lower.
- Spot gold fell to about $4,719–$4,741 an ounce and silver dropped roughly 2% near $74, as traders unwound ceasefire optimism.
- Local prices mirrored the global move, with 24K gold in India near ₹1,52,830 per 10g and Pakistan’s 24K rate around Rs495,362 per tola.
- Traders pushed back U.S. Federal Reserve rate‑cut hopes by about a year because costlier energy lifts inflation risk, and the Strait of Hormuz carries roughly one‑fifth of global oil and gas so disruption fears are keeping volatility high.