Gold Slides to $4,745 Amid Iran Tensions

Spot gold fell 0.1% to $4,745.13/oz and futures to $4,768.07/oz as investors shifted to equities.
U.S. President Donald Trump announced a Strait of Hormuz blockade effective 10:00 ET, with 34 ships transiting Sunday, the highest since closure began.
CME FedWatch indicated a 27% chance of a 25‑bp rate cut in December, from 16% earlier, weakening rate‑cut expectations amid oil‑driven inflation.