Global focus is fixed on Iran, where the combination of domestic political uncertainty and the ongoing closure of the Strait of Hormuz continues to exert pressure on global commodities. While gold remains near seven-week highs and oil prices climb, Iranian officials are attempting to quell mounting speculation regarding the health and whereabouts of Supreme Leader Mojtaba Khamenei, who has been absent from public view since March; the regime plans to release footage of the leader to counteract rumors of his incapacity or death following the wartime strikes that killed his predecessor. This geopolitical volatility persists alongside the U.S. military’s continued enforcement of the Strait of Hormuz blockade, which has now turned away 55 vessels. In domestic U.S. news, former President Joe Biden’s health has deteriorated, with family members confirming his prostate cancer has metastasized to his bones. Market sentiment reflects a cautious optimism despite these tensions, as Bitcoin pushed past $65,000 ahead of upcoming U.S. inflation data, and major tech firms like Cloudflare, Airbnb, and Snowflake hit 52-week highs, even as other assets like the South Korean won and the token XRP face distinct localized headwinds.