Hormuz Blockaded Again, Gold Headed Below 4000GoldOANDA:XAUUSDTradeCore_EvanIran's closure of the Strait of Hormuz impacts gold primarily through policy channels, not safe-haven flows. Surging oil prices would reinforce Fed tightening expectations, lifting the dollar and real yields—exerting unilateral downward pressure on gold. If tensions persist over the weekend, a gap-down opening on Monday is highly likely, resonating with our projected wave decline and accelerating the breakdown below key supports.