Gold falls to new session low as Trump announces US tariff on Hormuz passage

Since the last update here on Gold, the metal has now taken out the earlier noted low, which was set much earlier today during the Asian session, at $4,043.97. The metal seemed to trip stops once that low was taken out, but initially it did not extend on the downside and reversed a bit higher. Well, since then it has fallen again and that has delivered a new session low a short time ago, at $4,002.88. That low came as the US President announced a takeover of the Straits of Hormuz. 

In the process Trump has said they will charge a tariff of 20% on all goods given safe passage through the Straits of Hormuz. To be honest this is a real shock and one that will not be well-greeted by the rest of G7, or other US Middle East partners

Other reactions across the markets to this news as seen Oil prices jump again and Brent is closer to $80 per barrel again and the dollar has lifted across the board. Gold is right now at $4,012.20