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Iran Proposes Hormuz Reopen, Nuclear Talks Stalled, Oil Down 20%

4/28/2026

34 2 Full Breakdown

Summary

Iran Reopens Strait

Iran offered to reopen the Strait of Hormuz and delay nuclear talks.
The talks broke down, leaving the strait closed for two months and cutting about one-fifth of global oil flows.
Gold traded $4,700–$4,730 per ounce in the United States while the Federal Reserve is expected to keep rates unchanged at its meeting, the last chaired by Jerome Powell, whose term ends May 15.

Summary

Loeffert Predicts Gold

The Bloomberg Dollar Spot Index rose 0.2% while the dollar strengthened amid the energy shock.
Marc Loeffert of Heraeus Precious Metals said the Hormuz blockage could foster a gold bull market.
Nicky Shiels of MKS PAMP SA noted thin market conviction and mixed gold allocations.
Traders watch Federal Reserve (Fed), European Central Bank (ECB) and Bank of Japan rate meetings, while silver fell 2.8% to $73.39 an ounce and platinum dropped.

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Iran Reopens Strait

Iran offered to reopen the Strait of Hormuz and delay nuclear talks.
The talks broke down, leaving the strait closed for two months and cutting about one-fifth of global oil flows.
Gold traded $4,700–$4,730 per ounce in the United States while the Federal Reserve is expected to keep rates unchanged at its meeting, the last chaired by Jerome Powell, whose term ends May 15.

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