Market Highlight 12.05.2026

Global gold prices traded around 4.740 USD/ounce after rising 0,4% on Monday, as markets assessed the deadlock in the Strait of Hormuz, a factor that has pushed oil prices higher and further intensified inflation concerns. U.S President D. Trump rejected Iran’s latest negotiation proposal, making the ceasefire agreement in the Middle East more fragile than ever. This comes ahead of the key U.S inflation report due on Tuesday night. Economists expect CPI to rise sharply after the war in Iran triggered a surge in prices, affecting both manufacturing and agriculture. Silver prices also jumped more than 7%, marking the strongest gain in over a month, as technical signals attracted fresh buying interest.

Brent crude traded above 104 USD/barrel after rising 2,9% in the previous session, while West Texas Intermediate stood near 98 USD/barrel. A ceasefire agreement between the U.S and Iran has been in place since early April and has remained intact even after a series of recent attacks. The near closure of the Strait of Hormuz has significantly disrupted flows of crude oil, natural gas, and fuel to global customers. Developments in the Iran war will likely be discussed when President D. Trump meets the Chinese President this week, alongside other important issues such as Taiwan, artificial intelligence, nuclear weapons, and exports of critical minerals. Data released late last week showed that China’s exports rose sharply in April as factories ramped up capacity to meet demand related to artificial intelligence.

Domestically, interbank USD/VND moved back up to 26.325 yesterday as domestic foreign-currency demand increased. The effective daily ceiling was raised by a further VND 6 to 26.373.

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