Iran Market Pulse: Thursday Morning, 1 Mordad 1405 (23 July 2026); Brent Jumps Toward $96 and Gold Ends the Week at a Record

Three markets rose together this week, gold, oil and the dollar, but which one truly won? Brent crude climbed about two percent Thursday morning toward ninety-six dollars a barrel. The trigger was the Strait of Hormuz risk premium and a report a tanker was struck near Saudi waters. Spot gold rose Wednesday toward about four thousand one hundred fifty dollars, its highest since early July. Safe-haven demand and the coming Federal Reserve meeting kept the ounce above four thousand one hundred dollars. At home, the free-market dollar, gram gold and the Emami coin all closed the week higher. The free-market dollar hit a record of one hundred ninety-four thousand tomans, then eased to one ninety-two. The bourse index ended a long red run and closed near four million eight hundred eighty-four thousand. This week's winners were hard assets; the main loser was the cash left sitting idle. Week ahead: the bourse reopens Saturday, and the Federal Reserve meets Wednesday, the twenty-ninth of July. The week's verdict is clear: one thread ran through it all, the Strait of Hormuz risk premium. So the answer: hard assets and gold won this week; now eyes turn to the Fed. Full analysis on Sahmino.com.