Gold, silver up after Strait of Hormuz deal puts oil under pressure
Oil prices plunged to a three-month low after the U.S. and Iran agreed to reopen the Strait of Hormuz, flipping market focus from oil-driven inflation to possible rate relief; Brent crude dropped 4.8% to $83.17, while gold surged 3% to $4,344.77 and silver jumped 4.6% as traders trimmed bets on a U.S. rate hike ahead of the Fed meeting.