U S Central Command

Gold advanced sharply as signs of possible de-escalation around Iran pressured crude oil and weakened the inflation case for further rate hikes. XAUUSD traded at $4249.84, up $172.79 or +4.24%, while traders weighed softer private payrolls and a more supportive technical backdrop.

WTI crude surged after U.S. Central Command said Iranian Revolutionary Guard missiles targeting U.S. forces were intercepted, reviving inflation concerns for equity traders. The S&P 500, Nasdaq and Dow now face a difficult mix of energy pressure, semiconductor selling, major earnings and a closely watched Warsh press conference.

Bitcoin, ether, XRP and other major tokens showed only fractional daily moves after the U.S. launched another round of strikes on Iran and Tehran declared the Strait of Hormuz closed. With oil, stock and bond markets shut for the weekend, crypto is offering the first live read on the latest Middle East escalation.