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Gold slips to July low as oil jumps after Trump says Iran peace deal "over"

AI Market Summary
Trump's statement that the US-Iran temporary peace deal is "over" and reported IRGC strikes on US bases sharply raise geopolitical risk, driving crude up over 5% and re-pricing near-term energy supply risk. Despite the risk backdrop, gold fell ~1% to a July low, suggesting liquidation or higher real-rate pressure as Fed tightening odds rose (September hike probability to 66%). Cross-asset volatility and risk premia may stay elevated.
Impact level
● High
Affected assets
NCCO1OILWTI2USD/USDT+2.46%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
● Neutral
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Gold prices fell and crude oil rallied after Donald Trump said a temporary U.S.-Iran peace agreement signed in June was "over" and he would not engage with Tehran. Iran's Islamic Revolutionary Guard Corps subsequently said it had attacked U.S. military bases in Bahrain and Kuwait. Spot gold dropped 1.02% on the day to $4,063.67 an ounce, its lowest level since July. Oil prices climbed more than 5%. Rate-hike expectations also strengthened, with markets putting the probability of a Federal Reserve rate increase in September at 66%.
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