Gold slips as Warsh repricing, Hormuz oil spike lift rate risk

Early Monday, spot gold is lower while spot silver is firmer as traders balance higher September Fed-hike odds against a renewed Strait of Hormuz oil-shock risk and fresh U.S.-Iran escalation. The setup implies competing drivers for metals—rate sensitivity pulling gold down, but defensive demand supporting bullion/precious metals. Overall impact is likely more than routine, but not clearly market-wide.