The Strait of Hormuz remains the main geopolitical transmission channel into oil, rates and precious metals, but Thursday\u2019s trade was defined by a partial risk-premium unwind. U.S.-Iran talks were described as moving toward a possible deal, though Iran\u2019s uranium stockpile and Tehran\u2019s position on a potential toll system in the strait remain obstacles. President Donald Trump has said the Strait of Hormuz should remain an international, toll-free waterway.\u00a0<\/p>\n
The current market impact is less supportive for gold<\/a> from the safe-haven side but more supportive through lower oil and yields. Across other markets, the clearest effects were lower energy prices, softer energy equities, firmer broad equities and a less severe inflation impulse.<\/p>\n U.S. equities closed higher following the latest reversal in crude. The S&P 500<\/a> rose 0.2% to 7,445.72, the Dow Jones Industrial Average<\/a> gained 0.6% to 50,285.66 and the Nasdaq Composite<\/a> added 0.1% to 26,293.10. The Russell 2000 rose 0.9% to 2,843.45. The gains came after Brent crude fell from near $109 in the morning to settle below $103, helping bond yields ease and allowing major indexes to erase early losses.<\/p>\n The key outside markets see Nymex WTI crude oil prices lower and settling around $96.35 a barrel, while Brent crude settled near $102.58. The U.S. dollar index is firmer. The yield on the benchmark 10-year U.S. Treasury note is trading near the 4.6% area.<\/p>\n Technically, spot gold bulls\u2019 next upside price objective is to push prices back above the $4,550 to $4,600 resistance zone, with a sustained move targeting $4,660 and then $4,680. Bears\u2019 next near-term downside price objective is a break below $4,489.30, with deeper downside targets at $4,470 and then $4,370. First resistance is seen at $4,550 and then at $4,600. First support is seen at $4,530 and then at $4,489.30.<\/p>\n Spot silver bulls\u2019 next upside price objective is to drive prices back above the $77.24 to $78.00 area, with a move above that zone targeting $79.00 and then $85.00. The next downside price objective for the bears is a break below $76.14, with deeper downside targets at $75.19 and then $74.63. First resistance is seen at $77.24 and then at $78.00. Next support is seen at $76.14 and then at $75.19.<\/p>\n Disclaimer:\u00a0The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and\/ or damages arising from the use of this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"(Kitco NewsWire) – Spot gold prices are near steady and spot silver prices are higher after the close…\n","protected":false},"author":2,"featured_media":125529,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[28],"tags":[8326,8319,2670,8322,8318,7088,8321,8320,2218,266,8310,102,8325,281,8309,8327,1604,8328,8317,8313,8314,8312,8315,81,8316,8324,8329,8311,101,8323,3445],"class_list":["post-125528","post","type-post","status-publish","format-standard","has-post-thumbnail","category-strait-of-hormuz","tag-bank-forecasts","tag-bitcoin-news","tag-central-banks","tag-charts","tag-crypto-news","tag-currency","tag-economic-reports","tag-ethereum-news","tag-forecasts","tag-global-economy","tag-gold","tag-hormuz","tag-international-policy","tag-interviews","tag-kitco-news","tag-market-nugget","tag-metals","tag-mining-minutes","tag-mining-news","tag-palladium","tag-pgm","tag-platinum","tag-platinum-group-metals","tag-politics","tag-precious-metals","tag-rare-earth-metals","tag-roundups","tag-silver","tag-strait-of-hormuz","tag-tech-metals","tag-us-dollar"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116615896410686466","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/125528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=125528"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/125528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/125529"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=125528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=125528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=125528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"article](\"https:\/\/www.europesays.com\/iran\/wp-content\/uploads\/2026\/05\/image.gif\"\/)
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