Pete Hegseth says U.S.-Iran ceasefire is not over

U.S. Defense Secretary Pete Hegseth told reporters the ceasefire with Iran remains intact despite recent hostile incidents in the Strait of Hormuz, describing the latest military actions as separate from wider negotiations. The comment, made at the Pentagon, should reduce near-term escalation risk priced into markets. For gold (XAUUSD) this could ease safe‑haven demand and exert modest downward pressure, while energy markets could remain sensitive to any further disruptions in the Strait of Hormuz. Overall, the statement is a calming geopolitical signal but leaves residual uncertainty if incidents continue.