Daily Market Report
➢ Gold touches a seven-week high as the Hormuz deal progress lowers rate-hike odds and boosts near-term momentum.
➢ Iran and Oman agreed on coordinates for a shipping route through the Strait of Hormuz, marking a concrete step toward reopening.
➢ Silver rises above $62.00 as easing inflation concerns reduce the urgency for further Fed tightening.
➢ WTI remains subdued near $74.00 as the Iran-Oman Hormuz agreement removes the bulk of the supply risk premium.
➢ Yemen’s Houthis attacked a Saudi oil tanker in the Red Sea and Gulf of Aden, introducing a fresh regional risk to oil supply.
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