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Gold remains depressed as Hormuz standoff supports USD amid hawkish Fed rate bets
Gold (XAU/USD) remains on the back foot during the Asian session on Tuesday, though it lacks follow-through selling and trades in the previous day's broader range. Hopes for a last-minute agreement between the US and Iran are fading ahead of President Donald Trump’s Tuesday evening deadline to reopen the Strait of Hormuz. This benefits the US Dollar's (USD) global reserve currency status and exerts some pressure on the commodity. Apart from this, expectations for higher interest rates globally turn out to be another factor undermining the non-yielding yellow metal. Investors now seem convinced that the war-driven ... (full story)
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- Apr 6, 2026 10:44pm Posted byTechnical Analysis188
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- From dailyforex.com|Apr 7, 2026