At 7:46 a.m. Monday, Doornbos had posted on X that Iranian officials were still considering a U.S. proposal to end the war, 'centering around uranium enrichment.'
"Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz," Trump said in a post on his social media platform, Truth Social, as highlighted by CNBC.
The failure of peace talks between the United States and Iran and renewed tensions surrounding the Strait of Hormuz have strengthened demand for the US dollar as a safe haven, putting direct pressure on silver.