Safe Haven Liquidation

The sudden de-escalation in the Persian Gulf has removed the 'war premium' that had kept gold near record highs. Institutional desks reported significant long-liquidation as the first civilian tankers prepared to transit the Strait of Hormuz.

Macro Shift

While geopolitical tension is easing, gold remains supported by long-term concerns over debt and currency debasement. Analysts suggest the $4,500 level will act as a major psychological floor in the coming weeks.