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Galaxy Digital and BitGo are in court over a 100 million dollar compensation dispute, after Galaxy withdrew from a 1.2 billion dollar merger deal in 2022. BitGo accuses Galaxy of concealing details of a U.S. regulatory investigation that could have affected the deal. (CoinDesk)

May 25 Financial Breakfast: Federal Reserve Governor Waller joins the move away from dovish tendencies, gold price may aim for the 4,600 mark, US-Iran talks may be held next week, oil price plunges over 5%

Golden Ten Data reported on May 25 that, as signs emerged that the United States and Iran were close to reaching an agreement to reopen the Strait of Hormuz, easing inflation concerns, spot gold prices rose in early Asian trading on Monday and are now trading around $4,564 per ounce, up 1.35%. Spot silver rose more than 3%, climbing above $78 per ounce; platinum and palladium also rose. U.S. officials stated on Sunday that negotiations on the specific wording of the agreement are still ongoing, and final approval from both sides may take several days. U.S. President Trump said he would not "rush" to reach an agreement. Previously, U.S. Secretary of State Rubio indicated that as Iran and Washington advanced peace talks, "some good news" regarding the Strait of Hormuz might appear in the coming hours. Last Friday, Federal Reserve Governor Waller warned that the energy shock caused by the Iran war could intensify inflation, increasing bets on monetary tightening, leading to a decline in gold prices. Since the sharp drop in gold prices at the early stage of the Iran war, gold has been trading in a relatively narrow range as investors weigh between high interest rates and high inflation and low growth prospects. Since the outbreak of the conflict at the end of February, gold prices have fallen by approximately 14%.