Gate market data also cited Ministry of Commerce measures against U.S. compliance testing companies, tighter drone-related export controls, and progress toward a Strait agreement involving Iran and Oman.
Spot gold and silver each climbed more than 4%, with gold briefly moving above $4,260, while Federal Reserve official Kashkari said the time had come to raise interest rates gradually rather than pursue a significant hike. Gate market data also pointed to Ministry of Commerce countermeasures against U.S. compliance testing companies and stronger export controls on drone-related dual-use items (goods with civilian and military uses). In the Middle East, Iran and Oman were described as close to reaching a Strait agreement, and a new shipping route is expected to be usable for 2 to 4 months.