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

May 16, 12:10 PM - 04:10 PM UTC

Tensions Escalate in Strait of Hormuz

Geopolitical tensions are rising in the Middle East, with a focus on the critical Strait of Hormuz waterway. Reports indicate that Iraqi oil shipments through the strait have collapsed due to conflict, while Iran is separately preparing to unveil plans to control maritime traffic and collect tolls from passing vessels.