Iran Struck the Mediator’s Tanker. Gold Fell. The Funeral Ends Thursday.

Gold fell 1.1% on a Hormuz missile strike — not because markets ignored the news, but because tanker attacks in 2026 drive energy inflation, not safe-haven flows. The mechanism, Qatar’s complication, and the 48-hour window that actually matters for gold.
The Real Reason Gold Falls When Inflation Surges

April CPI hit 3.8% — and gold dropped. If that feels backwards, it should. Here’s the chain: hot inflation forced traders to reprice the Fed toward rate hikes, which lifted the dollar, which pressured gold. The short-term mechanics and the long-term case are two different things — and today is a perfect illustration of why.
