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Gold & Silver Market News — May 16, 2026, 08:10–12:10 UTC

May 16, 08:10 AM - 12:10 PM UTC

Tensions Escalate in Strait of Hormuz

Geopolitical risks are intensifying in the Middle East, centered on the Strait of Hormuz. Oil shipments from Iraq through the critical waterway have reportedly collapsed amid conflict, while Iran has announced plans to unveil new traffic regulations and collect tolls for passage.

Federal Reserve Leadership Changes Announced

The U.S. Federal Reserve is undergoing a leadership transition, with Jerome Powell being appointed as the interim chair. This move precedes what is being described as a turbulent transition, introducing a degree of uncertainty regarding the future direction of U.S. monetary policy.

Shifting Geopolitics and Global Risk Factors

High-level diplomatic engagements are signaling shifts in the global political landscape, including a scheduled state visit by Russia's president to China. Meanwhile, concerns over potential global health risks, such as a possible Hantavirus pandemic, are adding another layer to market uncertainty.

Sources

1Oil prices rise as Iraq’s Hormuz shipments collapse amid conflict2OpenAI seals deal in Malta to give all Maltese access to ChatGPT Plus3Iran to unveil Strait of Hormuz traffic plans, will collect tolls4Hantavirus: Is there a risk of another pandemic?5Starbucks to open first corporate office in India for tech expansion6Harvard endowment chief N.P. Narvekar plans retirement after decade-long tenure