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fxAug 10, 2026, 5:59 PM

Gold Edges Higher on Hormuz Delays, US CPI Caution

Gold prices edged higher as delays in the Strait of Hormuz reopening and cautious positioning ahead of US inflation data supported the metal, despite the US dollar's modest strength.

XAUUSD

Gold (XAU/USD) inched up at the start of the week, influenced by supply concerns from tensions in the Strait of Hormuz. Iran's demands on the US have delayed the reopening of the key shipping route, adding a geopolitical premium to the safe-haven asset.

Meanwhile, traders are exercising caution ahead of the release of crucial US inflation data, which could shape Federal Reserve policy expectations. The modest strength of the Greenback capped further gains, but the metal held its ground.

  • Strait of Hormuz delays due to Iran-US tensions support gold.
  • Upcoming US CPI report keeps traders cautious.
  • US dollar strength limits upside.

Source: FXStreet Forex News