New York gold futures slipped below $4,000 for the first time since last November, down 3.5% intraday.

BOC minutes: members agreed that if inf data begin to show pressures spreading, that would signal the need to tighten monetary policy.

Kpler shipping-tracking data show nine of 48 commercial vessels confirmed transiting the Strait of Hormuz on Monday — roughly 20% — had previously been sanctioned for energy shipments linked to Iran, Russia or Venezuela. An Iran-flagged bulk carrier, Warta, was tracked entering the Persian Gulf. Two Curaçao-flagged crude tankers, Asha and Lumina Ocean, were sailing along the strait's northern "Iran route." Curaçao-flagged tanker Titan and Botswana-flagged tanker Vigor also exited the strait on Monday.