Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

Gold Prices Soar Amid Hormuz Hopes and Weak Dollar

Guavy AI Editorial Team
Instruments
Gold Silver
Share

Gold prices surged on Wednesday, reaching their highest level since June 18, as investors sought safe-haven assets amid weaker U.S. dollar and renewed hopes of a Hormuz reopening.

The SPDR Gold Shares ETF (GLD) jumped over 4% in its biggest single-day gain since February, with spot gold trading at $4,252 an ounce and gold futures for November deliveries rising to $4,293.30 an ounce.

Silver also saw significant gains, with spot silver increasing by 4.5% to $62.2 an ounce, while gold advocate Peter Schiff pointed to the weak July ADP jobs report as a key catalyst behind the 'nice breakout for precious metals.'

More on Commodities

Commodities just now

Iran-Oman Deal Sparks Crude Oil Price Decline on Strait of Hormuz Concerns

Commodities 1m ago

Houthis Claim Responsibility for Attacks on Two Saudi Oil Tankers

Commodities 2m ago

Copper Prices Rise, Weighing on Consumer Demand and Quiet Market

Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Real-time market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy