π° Hourly Briefing | 2026-06-23 20:00 CST
Gold plunges 1.64% toward $4100, Hormuz Strait reopening with Iran limiting passage, UK PM Starmer freezes new policies ahead of leadership transition
π Market Overview
- Spot Gold (XAUUSD): 4123.67 | -68.66 (-1.64%) β
- Open 4192.17 / High 4198.19 / Low 4090.94
- Intraday crash exceeding $100, approaching $4100 level; $4000 now in play
- WTI Crude (USOIL): 74.500 | -0.190 (-0.254%) β
- Open 74.740 / High 75.060 / Low 73.120
- Hormuz Strait gradually reopening, oil prices ease but remain under pressure
π₯ Key News This Hour
- Hormuz Strait gradually reopening but Iran restricting vessel passage β Iranian military sources say the strait allows only a limited number of ships daily, adjusted based on conditions. Qatar’s 7 LNG carriers have returned to the Persian Gulf.
- UK PM Starmer announces freeze on new policies and spending β Agreed not to launch new policies or spending from now on, seeking to resolve difficult issues before leadership transition; plans smooth handover.
- Euro drops to lowest since June 2025 β EUR/USD at 1.1391, down 0.3% on the day.
- SpaceX up 2.3% pre-market β Gains expanding in US pre-market trading.
- AMC Entertainment plunges 18% pre-market β Stock sale agreement reached, significant shareholder dilution.
- Bank of America raises Intel target to $160 β Up from $135 previously.
- China’s “Lingsheng” supercomputer tops global TOP500 β Achieving 2.19 EFlops sustained double-precision FLOPS, setting a new world record.
- Li Qiang meets multiple leaders in Dalian β During Summer Davos Forum, met with Montenegro PM and Mongolia PM.
- BRICS national security senior representatives meet in New Delhi β Wang Yi attended, discussing non-traditional security challenges.
π§ Situation Assessment
Gold crashed over $100 intraday, driven by rising expectations of Hormuz Strait reopening as geopolitical premium rapidly unwinds.
However, Iran has explicitly stated it will limit the number of vessels passing through daily β this is not a full restoration of normal traffic, which explains why oil’s decline remains modest.
The US dollar continues to strengthen alongside the strait reopening narrative, creating a clear short-term headwind for gold with the $4100 level as a critical defense line.
UK political instability deepens as Starmer freezes new policies, adding further uncertainty to the UK fiscal outlook.
Goldman Sachs has cut US recession probability to a 15% long-term average, but Fed Chair Wush’s policy shift is actively boosting market volatility.
β° Upcoming Key Events
- Summer Davos Forum continues β watch for signals on China’s economic policy direction
- US pre-market trading underway β monitor AMC, SpaceX, and other individual stock moves
- Daily Hormuz Strait traffic updates β track actual vessel passage numbers authorized by Iran