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>>Gold jumps to a record $4,850 as the Strait of Hormuz reopens, sending the US dollar tumbling.

Gold jumps to a record $4,850 as the Strait of Hormuz reopens, sending the US dollar tumbling.

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about 5 hours ago

Gold Hits Record

Gold futures surged past $4,850 per ounce, with the LBMA reporting $4,852.30, an 8.5% single‑day rise—the largest rally since the 2008 crisis. Trading volume on COMEX tripled its 30‑day average, highlighting intense investor demand. The move broke key resistance levels within minutes, pushing the 14‑day RSI into overbought territory.

Hormuz Reopening Undermines the Dollar

The joint announcement that the Strait of Hormuz is fully open eliminated the oil‑supply risk premium that had buoyed the US dollar. The DXY dropped 2.9% while Brent crude fell 12% to $78 per barrel. Euro and Swiss franc rose 2.1% and 1.8% respectively, and 10‑year Treasury yields slipped 15 basis points as investors fled to safe assets.

Wider Commodity Rally and Outlook

Silver jumped 14% above $68, and platinum and palladium posted double‑digit gains, while gold‑mining ETFs rose over 20%, reflecting sector‑wide enthusiasm. Analysts caution that technical indicators show overbought conditions, but continued central‑bank buying and a weak dollar could sustain the upside. The market now watches for consolidation above $4,800 to gauge if this is a fleeting spike or the start of a longer‑term bull phase.