Gold Craters $118 as Iran Closes Hormuz

⚔️ XAU ALERTS
Gold Craters $118 as Iran Closes Hormuz

Monday, July 13, 2026

US-Iran missile strikes over the weekend triggered Hormuz closure fears and sent oil surging over 9%. but gold isn't buying it as a safe haven. Markets are now pricing in nearly 70% odds of a September Fed hike, DXY is pushing above 101, and rate-hike bets are killing non-yielding assets. Bears are in control below $4,100 and sellers are not done.

📉 Daily Bias: Bearish
🔴 Key Resistance: $4,100
🟢 Key Support: $3,960

June CPI drops Tuesday at 8:30 AM ET and Fed Chair Warsh testifies before Congress. a hot print accelerates this sell-off fast.

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