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Gold Slumps 17% Following Iran Strikes as Shipping Rates Skyrocket

Yahoo Finance Read original source (opens in a new tab)
The Story

News Summary

  • Gold prices dropped over 17% following the outbreak of military conflict with Iran, exhibiting a classic 'sell-the-news' dynamic after surging pre-war.
  • Concurrently, shipping rates skyrocketed due to the Strait of Hormuz closure, while equities and bitcoin posted moderate gains despite ongoing geopolitical risks.
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XAUUSD price history

4348.30 -8.76% over the displayed period

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