United States CFTC Gold NC Net Positions up to $162.5K from previous $156.3K

Gold (XAU/USD) surged to one-month highs, climbing above $4,850 as markets reacted to Iran’s announcement that it reopened the Strait of Hormuz. The development boosted risk sentiment, dented safe-haven demand for the US dollar and supported bullion’s advance. The risk-on mood was reflected across asset classes: EUR/USD and GBP/USD firmed intraday (EUR/USD briefly near 1.1850; GBP/USD around 1.3550) and cryptocurrencies extended gains (Bitcoin trading above $75,000). The move into gold represents a bullish response to the geopolitical news and dollar weakness, lifting precious metals and risk assets into the weekly close.