Oil Rises, Crypto and Precious Metals Decline Amid Market Movement Driven by US-Iran Tensions and Rate Hike Expectations

Geopolitical tensions and interest rate expectations formed the main agenda items in global markets on Monday, August 31, 2026. Oil prices rose after US President Trump stated that the US would hit Iran "severely" as conflicts reignited. The exchange of fire between the two countries ended weeks of relative calm, while gold prices declined following the attacks launched by the US against Iran. Rising rate hike expectations also contributed to silver prices starting the week with losses.

In cryptocurrency markets, Bitcoin and Ethereum prices declined due to the pressure created by high interest rate expectations. Despite this, legal and institutional developments within the sector drew attention. An arbitration decision announced that crypto exchange Gemini Space Station did not mislead users in the collapse of its Earn lending program and was faultless in the process. On the other hand, it was reported that the Ripple-backed XRP treasury moved one step closer to a Nasdaq listing.

On the mining and corporate side, TNR Gold announced that it launched its 2026 exploration program at the Shotgun gold project located in Alaska. Additionally, Dollar Tree (DLTR) from the retail sector held its evaluation meeting regarding its second quarter 2027 financial results.

This content is for general information purposes and is not investment advice.