https://www.bloomberg.com/news/arti...lose-strait-of-hormuz-if-it-can-t-use-it-fars Shit just got real... Iran will close the Strait of Hormuz, a waterway vital for global oil shipments, if the country is prevented from using it, a senior military official said on Monday in what appears to be a response to the U.S. plan to end waivers on Iranian oil exports. “If we are prevented from using it, we will close it,” the state-run Fars news agency reported, citing Alireza Tangsiri, head of the Revolutionary Guard Corps navy force. “In the event of any threats, we will not have the slightest hesitation to protect and defend Iran’s waterway.” The Strait of Hormuz is a narrow waterway carrying a fifth of the world’s traded oil that Iranian officials have threatened to block in retaliation for sanctions targeting the country’s nuclear program. The U.S. has said it would move to stop any Iranian attempt to block the waterway.
Turkey is rejecting the Sanctions!!! https://www.dailysabah.com/energy/2...s-us-sanctions-on-irans-oil-fm-cavusoglu-says The #US decision to end sanctions waivers on #Iran oil imports will not serve regional peace and stability, yet will harm Iranian people," Foreign Minister Mevlüt Çavuşoğlu wrote on Twitter after the White House announced the decision. "#Turkey rejects unilateral sanctions and impositions on how to conduct relations with neighbors," he added.
I think that we might see next move on USD and Gold due to its correlation to oil. Usually when oil price move up, USD goes down dragging Gold on the upper side. Still, it happens with some time leg, but at least gives some indication of future moves
Since gold is nominated in USD they have to move in opposite position, but sometimes I see that gold rises with DXY, why do you think this happens?