Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report
Published . Updated .
This report is about oil and gold.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund+2.7% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR+5.6% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.
- GLD SPDR Gold Shares-3.3% 30d
SPDR Gold Shares: it follows gold or gold miners. Linked by “precious metals” (gold) in this story.
- PICK iShares MSCI Global Metals & Mining Producers ETF-9.5% 30d
iShares MSCI Global Metals & Mining Producers ETF: it holds metals and mining companies. Linked by “metals” (metals & mining) in this story.
- XOM ExxonMobil Holdings+11.8% 12d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- WPM Wheaton Precious Metals-18.4% 30d
Wheaton Precious Metals (gold and silver ores): gold miners' profits move with the gold price. Linked by “precious metals” (gold) in this story.
- NEM Newmont-11.2% 30d
Newmont (gold and silver ores): gold miners' profits move with the gold price. Linked by “precious metals” (gold) in this story.
- CVX Chevron+6.5% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | -3.36% | -2.27% | base | -1.05% | after close | after close | after close |
| XLE | -2.42% | -2.96% | base | -1.41% | after close | after close | after close |
| GLDNo price data for this ticker | — | — | — | — | — | — | — |
| PICKNo price data for this ticker | — | — | — | — | — | — | — |
| XOM | -3.61% | -3.44% | base | -1.15% | after close | after close | after close |
| WPMNo price data for this ticker | — | — | — | — | — | — | — |
| NEMNo price data for this ticker | — | — | — | — | — | — | — |
| CVX | -2.74% | -2.34% | base | -1.10% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report Kitco
Source: Kitco
17 earlier Strait of Hormuz stories for United States Oil Fund (USO)
Across 17 earlier stories, United States Oil Fund (USO) the next day averaged -0.66%. The largest gain was -0.66% and the largest drop was -0.66%, from 17 prices.
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| United States Oil Fund (USO) | the next day | -0.66% | -0.66% | -0.66% | 17 |
| United States Oil Fund (USO) | three days later | +0.46% | +0.46% | +0.46% | 17 |
| Select Sector Spdr Tr (XLE) | the next day | -0.41% | -0.41% | -0.41% | 17 |
| Select Sector Spdr Tr (XLE) | three days later | -0.96% | -0.96% | -0.96% | 17 |
- Ship attacks in Strait of Hormuz hit record high since Iran war began
- Iran’s attacks on Hormuz shipping 'unsuccessful', Centcom says
- Hormuz Attacks Escalate as Iran Claims Tanker Hit a Mine
- 🇺🇸🇮🇷 Oil markets are pricing in the latest Hormuz disruption, and the global system is still adapting rather than breaking. Global monetary expert Jeff Snider, founder of Eurodollar University, told Brandon Weichert that Kepler’s report of Strait of Hormuz flows f
- Iran says oil tanker catches fire after hitting mine in Strait of Hormuz
- Two oil tankers on fire after hitting mines in Hormuz
The price since 27 Oct 2026: United States Oil Fund (USO) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Chevron (CVX) | that day | -1.10% | still updating |
| Chevron (CVX) | three days earlier | -2.34% | final price |
| Chevron (CVX) | five days earlier | -2.74% | final price |
| United States Oil Fund (USO) | that day | -1.05% | still updating |
| United States Oil Fund (USO) | three days earlier | -2.27% | final price |
| United States Oil Fund (USO) | five days earlier | -3.36% | final price |
| Select Sector Spdr Tr (XLE) | that day | -1.41% | still updating |
| Select Sector Spdr Tr (XLE) | three days earlier | -2.96% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -2.42% | final price |
| ExxonMobil Holdings (XOM) | that day | -1.15% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | -3.44% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | -3.61% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 57 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought ExxonMobil Holdings (XOM), worth $250,001 - $500,000 on 31 Jul 2026. That is 88 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Gilbert Cisneros bought Wheaton Precious Metals (WPM), worth $1,001 - $15,000 on 26 Aug 2026. That is 62 days before publication. Filed 10 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought Newmont (NEM), worth $1,001 - $15,000 on 24 Aug 2026. That is 64 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 34 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 55 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Chevron (CVX), worth $15,001 - $50,000 on 26 Aug 2026. That is 62 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Where this story sits: Strait of Hormuz
Geopolitics Alpha has 115 stories about Strait of Hormuz from the past 7 days and 306 stories from the past 30. That is faster than its usual pace over the past month. “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report” is tagged to Strait of Hormuz.
Companies in energy around United States Oil Fund (USO)
Companies tied to this story
- USO United States Oil Fund
In “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report,” United States Oil Fund (USO) is linked, with no stored direction, medium confidence. Reason on file: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
- XLE Select Sector Spdr Tr
In “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- GLD Spdr Gold Trust
For “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report,” Spdr Gold Trust (GLD) is linked, with no stored direction, medium confidence. Reason on file: SPDR Gold Shares: it follows gold or gold miners. Linked by “precious metals” (gold) in this story
- PICK Ishares Msci Global Metals & Mining
Ishares Msci Global Metals & Mining (PICK) is linked, with no stored direction, medium confidence in the 27 Oct 2026 story “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report.” Reason on file: iShares MSCI Global Metals & Mining Producers ETF: it holds metals and mining companies. Linked by “metals” (metals & mining) in this story
- XOM ExxonMobil Holdings
For “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report,” ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- WPM Wheaton Precious Metals
For “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report,” Wheaton Precious Metals (WPM) is linked, with no stored direction, medium confidence. Reason on file: Wheaton Precious Metals (gold and silver ores): gold miners' profits move with the gold price. Linked by “precious metals” (gold) in this story
- NEM Newmont
For “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report,” Newmont (NEM) is linked, with no stored direction, medium confidence. Reason on file: Newmont (gold and silver ores): gold miners' profits move with the gold price. Linked by “precious metals” (gold) in this story
- CVX Chevron
Chevron (CVX) is linked, with no stored direction, medium confidence in the 27 Oct 2026 story “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report.” Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
United States Oil Fund (USO) and the energy link
The 27 Oct 2026 story “Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report” names United States Oil Fund (USO) because of Strait of Hormuz.
United States Oil Fund (USO) is on the page because United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
Also listed, Select Sector Spdr Tr (XLE): Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
The price range for United States Oil Fund (USO), and the dates in the story
GLD traded between 373.41 and 400.78 across 20 sessions. The latest close on file is 379.67. USO traded between 141.82 and 169.96 across 20 sessions. The latest close on file is 166.26. XLE traded between 60.95 and 69.86 across 20 sessions. The latest close on file is 69.64.
How strong the case is around United States Oil Fund (USO)
46 out of 100Price not final
“Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision - Kitco AM Report” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.