Bullion experienced a significant downturn Monday as market participants monitored escalating friction between Washington and Tehran concerning the Strait of Hormuz, a critical artery for global energy transport. Spot prices for the precious metal plunged as much as 1.9% during the session before moderating to approximately 1.1% lower, hovering around $4,562–$4,571 per ounce in London markets. Futures contracts similarly declined 1.5%, settling at $4,573.94. The selloff followed President Donald Trump’s weekend announcement of “Project Freedom,” an initiative designed to facilitate the resumption of maritime traffic ... (full story)