Forex
Gold Prices Soar with Oil Decline and Hormuz Hopes
Gold prices are up by about 0.75% on Tuesday as oil prices fall and US Treasury yields decline.
The improvement in risk appetite, along with hopes for a reopening of the Strait of Hormuz, have contributed to this rise.
The US Dollar Index (DXY) has dropped by 0.05%, amidst growing speculation about the potential reopening of the strait.
An Iranian Foreign Ministry spokesperson stated that Iran and Oman are continuing talks on the matter, while US President Donald Trump reposted an article from August 2, indicating a possible deal in the works.