Gold and silver fall after Strait of Hormuz ship attacks
Business
Gold and silver prices slid on Monday, April 20, 2026 after attacks on ships in the Strait of Hormuz rattled energy markets.
Gold dropped 2% to $4,780 per ounce, while silver slipped 2.5% to $78.75 per ounce during Asian trading hours, showing just how quickly global events can shake up these markets.
Metals down amid U.S.-Iran tensions
Prices for both metals have been falling since U.S.-Iran tensions flared up in late February: Gold is down about 9%, and silver has dropped 14%.
Silver's price swings are especially sharp because it's used for both jewelry and tech gear.
Analysts say limited mining could keep silver in short supply this year, especially if global uncertainty sticks around.