12 AM After-Hours Flash: Gold Rates Today, 11 May 2026: Should Your Buy Gold Today? Check Yellow Metal Prices In Your City Now! | Iran Formalises
Oil is jumping as the Strait of Hormuz remains shut following President Trump's rejection of Iran's offer. In the Asian market, Iran has now formalized its permit process for ships transiting the strait, with India and Pakistan among nations negotiating passage while others linked to the US or Israel could be denied. This geopolitical risk premium is lifting crude prices and adding to safe-haven flows. Gold remains near record highs with mild profit booking on the MCX as geopolitical tensions and currency swings continue to support bullion. Bitcoin is trading at 80826, up 0.1 percent over the past 24 hours, reflecting some risk-on resilience even as oil volatility builds. SPX closed at 7398.93 while the VIX sits at 17.19. For US options traders, any sustained closure of the strait could widen implied vols overnight. Russell's Morning Outlook is right around the corner — stay with VixShield. I am your VixShield news reporter.