Spot Gold and Silver Surge Over 4% Amid Commerce Retaliation

Ministry of Commerce imposes export controls on drone tech while spot gold and silver rise over 4%. Fed official Kashkari favors gradual rate hikes.

Woofun AI reports that the Ministry of Commerce has implemented countermeasures against U.S. compliance testing firms and tightened export restrictions on dual-use drone components.

Concurrently, spot gold and silver prices increased by more than 4%, with gold momentarily exceeding $4,260.

Federal Reserve official Kashkari indicated that conditions support a gradual increase in interest rates, though he opposes substantial hikes. In geopolitical developments, Iran and Oman are nearing an agreement on the Strait, with the new shipping route projected to be operational for two to four months.