Iran Peace Proposal Collapses Gold Demand; Nikkei Hits Record as Europe Sinks to Multi-Year Lows
Iran submitted a peace proposal to reopen the Strait of Hormuz, triggering a global risk-on rotation that sent gold and silver tumbling while Japan's Nikkei hit record highs. Germany's GfK consumer confidence fell to a 3.25-year low and IFO business confidence to near a 6-year low, exposing a widening divide between Asian optimism and European energy pain. Economist Justin Wolfers warns energy cost pressures could persist for years without a durable resolution.
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