On July 13, the global gold market experienced a notable downturn, with prices dropping by more than $50 per ounce. The current price stands at approximately $4,067 per ounce. This decline comes in the wake of escalating tensions in the Middle East, particularly following recent military actions by the United States against Iran.

The Central Command of the U.S. military reported that as of the night of July 12, operations targeting Iran had commenced. These actions aim to weaken Iran's capabilities and prevent attacks on commercial shipping and vessels navigating the Strait of Hormuz.

Concerns among gold traders have risen due to the potential for the U.S. Federal Reserve to maintain higher interest rates for an extended period, a strategy aimed at combating persistent inflation. Minutes from the Fed's June meeting indicated that some officials are in favor of raising interest rates this year. High interest rates are generally unfavorable for gold, as the precious metal does not yield fixed interest returns. This factor has contributed to a more than 20% decline in gold prices since the onset of the Middle Eastern conflict, despite gold's traditional role as a safe haven during market volatility.

Recently, gold prices dipped below the $4,000 mark, reaching their lowest point since November 2025. In contrast, the oil market saw both Brent and WTI crude prices rise nearly 4%, with Brent priced at $78.7 per barrel and WTI at $74. This increase in oil prices is driven by concerns over supply disruptions, particularly as Iran has threatened to close the Strait of Hormuz, a crucial waterway responsible for transporting 20% of the world's oil supply.

The flow of vessels through the Strait of Hormuz has significantly decreased following Iran's attacks on ships in early March. However, traffic has begun to recover after the U.S. and Iran signed a preliminary peace agreement in June.