In early trading on the 15th, spot gold opened higher, surging more than 2% and briefly breaking through the $4,300 level during the session. At the time of writing, it is trading at $4,285.486 per ounce.
Simultaneously, US stock index futures rallied across the board. As of the latest update, Nasdaq futures are up nearly 400 points, a gain of 1.3%. Conversely, WTI crude oil futures have seen their decline widen to as much as 5%.
The market moves follow significant geopolitical news. According to reports, US President Trump stated on social media on the 14th that with a US-Iran agreement set to be signed on the 19th, the Strait of Hormuz will reopen for mine-clearing operations.
Further details emerged from Iranian media early on the 15th. Iran's Deputy Foreign Minister confirmed that the text of a US-Iran memorandum of understanding has been finalized, with a formal signing ceremony for the "Islamabad Memorandum" scheduled for the 19th in Switzerland.
The official stated that the US naval blockade on Iran ended from the early hours of the 15th, and military actions on various fronts, including in Lebanon, will cease "immediately and permanently."
He emphasized that Iran has incorporated its "key positions" into the draft memorandum. This agreement "does not mean trusting the enemy," and Iran will monitor the US's compliance with its commitments.
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