Gold Mini Jun '26 (QOM26)
Gold Mini Futures Market News and Commentary
The dollar index (DXY00) today is up by +0.08%.  The dollar is climbing today on ramped-up tensions in the Middle East after Iran on Saturday said the Strait of Hormuz was closed for shipping following a refusal by the US to lift a naval blockade of Iran's vessels. Also, the US Navy fired upon and boarded an Iranian-flagged cargo ship in the Gulf of Oman, the first seizure in the US blockade of the Strait of Hormuz. Falling stocks today are also boosting liquidity demand for the dollar. In addition, today's +5% jump in WTI crude oil prices raises inflation expectations, which are hawkish for Fed policy and supportive of the dollar.
The dollar fell back from its best level today after the New York Post reported that Vice President Vance is on his way to Pakistan for talks with Iran, and that President Trump is open to meeting with Iranian leaders.
The UK reported Saturday that a tanker was approached by Iranian gunboats off the coast of Oman before being fired at, and an... Read more
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Educational and Actionable information using Fibonacci and W.D. Gann analysis.
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