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fxAug 11, 2026, 11:26 AM

Gold pauses near two-month highs as oil prices rise on Strait of Hormuz uncertainty

Gold edged lower after reaching a two-month peak, with the rally stalling as oil climbed amid tensions over the Strait of Hormuz.

XAUUSD

Gold (XAU/USD) retreated slightly on Tuesday after touching $4,435, its highest in two months, early in the Asian session. The modest pullback came as uncertainty over the reopening of the Strait of Hormuz continued to push oil prices higher.

Rising energy costs shifted some attention away from bullion, prompting profit-taking near the recent peak. The move left gold hovering just below the session high, while traders monitored geopolitical developments.

Source: FXStreet Forex News