US-Iran Conflict Spikes Gold Prices as Double Top Formation Looms

The US-Iran conflict has been ongoing for 175 days, with Iranian parliament speaker Mohammed Baqer Qalibaf calling on Iran to plan for overcoming 'unjust sanctions' imposed by the US.

US Treasury Secretary Scott Bessent announced the toughest sanctions ever imposed on Iran, which will be detailed on Monday, suggesting they could lessen the need for further major military operations.

The conflict has resulted in thousands of casualties and disrupted markets as Iran demonstrated its capacity to restrict shipping through the Strait of Hormuz, a waterway responsible for transporting approximately one-fifth of global traded oil since February 28, 2026.