Gold futures experienced a three-day rally, surging over 3% to reach $4,300. The market found support from the prospect of an interim agreement to reopen the Strait of Hormuz, which helped alleviate inflation concerns and shift interest rate expectations. The CME FedWatch Tool now reflects market pricing of a single U.S. rate hike by year-end, down from two earlier expectations. Meanwhile, Silver futures climbed nearly 4% to break above $60 an ounce, benefiting from an improved risk backdrop alongside gold. Copper futures also saw gains, trading near all-time highs at 6.69 amid tight physical markets and the highest Chinese import premiums since 2023.