Naval Blockade Persistence

The continued closure of major shipping lanes in the Persian Gulf remains the primary driver for bullion. While the U.S. has not resumed active strikes, the ongoing blockade of Iranian ports ensures that a structural risk premium remains embedded in the market.

Inflationary Undercurrents

Rising energy and chemical costs are stoking fears of a second wave of structural inflation. Institutional investors are utilizing the current price range to increase their long-term allocations as a hedge against currency debasement.