Commodities
Gold Prices Surge Amid Ongoing US-Iran Tensions
The price of gold rose in the previous session and remained near $4,400/oz. The uncertainty over a U.S.-Iran deal to reopen the Strait of Hormuz supported oil prices, which have been climbing due to concerns over supply disruptions.
WTI Crude Oil prices extended their gains, nearing a two-week high as tensions between the U.S. and Iran continued. Fresh Houthi attacks on Red Sea shipping also raised concerns about prolonged supply disruptions.
Copper futures climbed toward $6.65/lb for a third straight session, supported by tightening supply and expectations of lower mine output. Potential U.S. import tariffs remained a key concern.