Gold Drops, Nikkei Hits Record as Iran Hormuz Offer Sparks Risk-On Rotation
Iran's proposal to reopen the Strait of Hormuz triggered a sharp risk-on rotation Monday: gold and silver sold off hard, the Nikkei surged to a record high, and the dollar weakened. Markets are pricing in near-term de-escalation, but the White House review comes just 24 hours after Trump canceled Iran talks in Pakistan. Underlying damage persists — U.S. consumer sentiment hit a record low of 47.6 in April, gasoline reached $4/gallon, and global oil demand is on track for its largest monthly decl
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