Qeshm island and Hormuz hit, as mediators try to prevent US-Iran escalation
Trouble for tankers threatens oil flows from the Gulf. More expensive oil keeps inflation and US interest rates high, which gold does not like.
Effect: right now
What moved gold on Saturday 7 November 2026
Iran executes man convicted of attack on police station
A bigger war in the Gulf threatens oil supply. More expensive oil keeps inflation and US interest rates high, which hurts gold.
Effect: right now
Trump confirms US strikes in Iran, insists ‘it’s not a war’
A bigger war in the Gulf threatens oil supply. More expensive oil keeps inflation and US interest rates high, which hurts gold.
Effect: right now