Gold Tumbles Nearly 2% as US-Iran Standoff Over Hormuz Strait Intensifies | Metals Mine

  • Gold Tumbles Nearly 2% as US-Iran Standoff Over Hormuz Strait Intensifies

    From moneycheck.com

    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 ... (full story)

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princegolds
May 4, 2026 11:17am
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I am doing dollar cost average every 4$, account can sustain until 3200$, I hope it is impossible to reach there. Otherwise will need to inject more capital to compensate for the floating loss maintenance.

We are in a range lows of large time frame, better not to short.
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Giucca
May 4, 2026 10:14am
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Zero reasons for gold to depreciate as the the situation in the middle east escalates
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BillyIdol
May 4, 2026 10:38am
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Inflation means higher interest rates, means strong dollar, means weaker gold.
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Giucca
May 4, 2026 10:54am
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Yeah, but when in a war, one should prefer gold over the dollar.
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Geepips
May 4, 2026 10:54am
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Since new york wakes up. Everything went crazy.
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TehAyatollah
May 4, 2026 10:23am
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Here we go!! Got stopped out.. not surprised though.. they were not going to let NQ reclaim 28k
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pawn009
May 4, 2026 9:03pm — Edited
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@BillyIdol Trump appointed Warsh Fed Chairman for his dovish views. Do you think it will be hard to influence the committee to cut rates?
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