{"id":60760,"date":"2026-04-10T09:38:29","date_gmt":"2026-04-10T13:38:29","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/white-house-projects-strait-of-hormuz-reopening-within-60-days-gold-hits-record-4773-after-cpi-data\/60760\/"},"modified":"2026-04-10T09:38:29","modified_gmt":"2026-04-10T13:38:29","slug":"white-house-projects-strait-of-hormuz-reopening-within-60-days-gold-hits-record-4773-after-cpi-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/white-house-projects-strait-of-hormuz-reopening-within-60-days-gold-hits-record-4773-after-cpi-data\/60760\/","title":{"rendered":"White House Projects Strait of Hormuz Reopening Within 60 Days; Gold Hits Record $4,773 After CPI Data"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>White House NEC Director Kevin Hassett predicts the Strait of Hormuz will be fully reopened within two months<\/strong>, offering a potential end to the current maritime blockade that has restricted traffic to just <strong>10% of normal levels<\/strong>.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> reached a record $4,773.58 per ounce<\/strong> following the release of US CPI data, as investors reacted to a softer-than-expected core inflation reading despite a <strong>3.3% annual headline increase<\/strong>.<\/li>\n<li><strong>Internal power struggles have emerged within the Iranian delegation<\/strong> ahead of critical negotiations in Islamabad, with IRGC Commander-in-Chief <strong>Ahmad Vahidi<\/strong> moving to curb the authority of Foreign Minister <strong>Abbas Araghchi<\/strong>.<\/li>\n<li><strong>The outlook for Federal Reserve rate cuts remains &quot;very solid,&quot;<\/strong> according to the White House, suggesting that cooling core inflation may provide the central bank room to ease policy later this year.<\/li>\n<li><strong>Q1 earnings season is set to begin next week<\/strong>, with major financial institutions including JPMorgan Chase (<a href=\"\/stock\/JPM\">JPM<\/a>) and Goldman Sachs (<a href=\"\/stock\/GS\">GS<\/a>) scheduled to report results starting Tuesday.<\/li>\n<\/ul>\n<h2>White House Signals Energy Relief as Hormuz Reopening Looms<\/h2>\n<p>White House National Economic Council (NEC) Director <strong>Kevin Hassett<\/strong> announced Friday that the <strong>Strait of Hormuz<\/strong> could be fully reopened to maritime traffic within the next <strong>two months<\/strong>. Speaking to <em>Fox Business<\/em>, Hassett noted that current boat traffic is flowing at only <strong>10% of its normal pace<\/strong>, a bottleneck that has caused significant global energy supply disruptions.<\/p>\n<p>The administration expects a <strong>&quot;rapid reduction&quot; in energy prices<\/strong> once the strategic waterway is fully operational. Hassett emphasized that the U.S. has developed <strong>comprehensive backup plans<\/strong> to ensure the opening of the strait, which remains a primary chokepoint for global oil and gas shipments. Investors in the United States Oil Fund (<a href=\"\/stock\/USO\">USO<\/a>) are closely monitoring these developments as the &quot;terror premium&quot; continues to impact crude futures.<\/p>\n<h2>Geopolitical Tensions Escalate Amid Diplomatic Friction<\/h2>\n<p>The diplomatic outlook remains precarious as <strong>Iranian media reported smoke plumes rising over Tehran<\/strong> on Friday, following alleged strikes on key infrastructure. Simultaneously, <strong>sirens sounded across Northern Israel<\/strong> after rockets were launched from Southern Lebanon, further straining the fragile regional security environment.<\/p>\n<p>In Islamabad, negotiations between the U.S. and Iran are scheduled to last two to three days, but internal Iranian politics may complicate a resolution. <strong>IRGC Commander-in-Chief Ahmad Vahidi<\/strong> is reportedly seeking to limit the authority of Foreign Minister <strong>Abbas Araghchi<\/strong> and Parliament Speaker <strong>Mohammad Bagher Ghalibaf<\/strong> during the talks. Vahidi has pushed for the inclusion of <strong>Mohammad Bagher Zolghadr<\/strong>, Secretary of the Supreme National Security Council, to ensure the delegation maintains a hardline stance on Iran&#39;s missile program.<\/p>\n<h2>Inflation Data Sparks Gold Surge and Fed Optimism<\/h2>\n<p>U.S. <strong>CPI data released Friday<\/strong> showed that consumer prices rose <strong>0.9% in March<\/strong>, bringing the annual inflation rate to <strong>3.3%<\/strong>. While headline figures remain elevated due to energy costs, a softer-than-expected core inflation reading sent <strong>gold prices up 0.2% to $4,773.58 per ounce<\/strong>. The SPDR Gold Shares (<a href=\"\/stock\/GLD\">GLD<\/a>) saw increased activity as the dollar index slipped following the report.<\/p>\n<p>Despite the inflationary pressure from energy, <strong>Kevin Hassett<\/strong> stated that the outlook for the <strong>Federal Reserve having room to cut rates<\/strong> remains &quot;very solid.&quot; <em>Market participants initially trimmed gains in short-term interest rate futures<\/em> following the report, but the focus remains on the Fed&#39;s ability to navigate a &quot;soft landing&quot; as supply chain pressures from the Middle East potentially ease.<\/p>\n<h2>Market Reaction and Earnings Outlook<\/h2>\n<p>Global bond markets showed signs of stress as <strong>UK long-dated gilts extended losses<\/strong>, with the yield on the <strong>20-year Gilt rising 10 basis points<\/strong> on the day. In contrast, <strong>Germany&#39;s current account balance<\/strong> for February showed a robust surplus of <strong>22.007 billion EUR<\/strong>, significantly exceeding the previous reading of 17.1 billion EUR.<\/p>\n<p>Looking ahead, the <strong>Q1 reporting season kicks off next week<\/strong>, providing the first major look at corporate health amid the 2026 energy crisis. Over <strong>1,100 companies<\/strong> are expected to report, led by major banking institutions on Tuesday. Analysts will be scrutinizing forward guidance for signs of how prolonged regional instability is impacting bottom-line projections for the remainder of the fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways White House NEC Director Kevin Hassett predicts the Strait of Hormuz will be fully reopened within two months, 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