Gold Market Analysis and Trading StrategyGoldOANDA:XAUUSDpehma6Dual Drivers: Safe Haven + Inflation Direct catalyst: The conflict has escalated from a proxy war to direct U.S.-Iran confrontation. Geopolitical risk premium is fully priced in, with massive safe-haven capital flowing into gold. Spot gold in London has firmly held at $5276.2/oz. Inflation support: The closure of the Strait of Hormuz and disruption of Red Sea shipping have pushed oil prices higher, lifting global inflation expectations and further activating gold’s inflation-hedging attribute.