Gold Falls 0.5% on Iran Deal: The Floor Holds

Gold dropped half a percent on Iran peace optimism today. In any prior cycle that news would have sent it down three. That gap — between what should have happened and what did — is the story.
Trump Called Off the Strike. Gold’s Real Risk Is Still $39 Trillion.

Trump’s decision to pause a planned Iran strike sent gold swinging $45 intraday and crude oil down more than 2% — but the two metals told completely different stories. Oil priced out the geopolitical risk. Gold barely moved. Five briefs explain why: Iran is the catalyst, not the cause. The monetary fundamentals driving gold — $39 trillion in national debt, fifteen years of money creation, central banks in their fifteenth straight year of net buying — don’t get resolved by a phone call.
War Risk, Stagflation Signals, and a $6,300 Gold Target

Iran’s 8PM deadline looms, oil is above $100, and March jobs data quietly revised away 400,000 positions. JPMorgan sees a buying signal in miners. China just hit an 8-year silver import high. The macro picture is moving fast.
