The US and Iran are at an impasse around the Strait of Hormuz. Energy prices remain high, the pressure on the Federal Reserve to raise interest rates once again increases, and the price of gold is falling. Spot gold fell below $4,165 an ounce. Silver, platinum, and palladium fell simultaneously. Gold fell close to 6% this month. The US dollar spot index, which measures the strength of the US dollar, rose 0.2%. Investors believe that the probability that the Fed will raise interest rates in October is about 68%.

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