🟢 SPDR Gold MiniShares is trading 3.1% up today after a U.S.–Iran peace agreement and the reopening of the Strait of Hormuz

SPDR Gold MiniShares is trading 3.1% higher today as gold prices react to a major shift in geopolitical risk and inflation expectations following a tentative U.S.–Iran peace agreement and the planned reopening of the Strait of Hormuz.

• Lower oil prices and reduced supply-shock risk are driving a broad risk-on rally, impacting gold's traditional role as a geopolitical and inflation hedge.
• Investors are also repositioning ahead of the first FOMC meeting under Chair Kevin Warsh, weighing evolving views on future interest rate cuts.