Markets Rebound: Gold Jumps As Strait Of Hormuz Reopens

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Markets Rebound: Gold Jumps As Strait Of Hormuz Reopens

A Kashmiri jeweller sits inside a shop surrounded by gold necklaces and ornate jewellery on display in Srinagar, Indian-administered Kashmir, on April 17, 2026. Bullion price movements continue to influence demand in the local market. Gold climbs to a near one-month high after Iran reopens the Strait of Hormuz, easing fears of supply disruptions and inflation. Spot gold rises 1.7% to about $4,887 an ounce, with silver up over 5%, as stabilizing oil flows through the key route carrying nearly a fifth of global supply calm markets. For India, a major oil importer and one of the world's largest gold consumers, softer energy prices could ease inflation while supporting bullion demand. (Photo by Kabli Yawar/NurPhoto)


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