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The Hormuz Paradox: Why an Oil Crisis Can Both Lift and Pressure Gold

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The Hormuz Paradox: Why an Oil Crisis Can Both Lift and Pressure Gold

Fresh security incidents around the Strait of Hormuz have renewed a familiar market question: when energy risk rises, does gold benefit? The short answer is yes—but not always for long. A Hormuz shock can support gold through safe-haven demand, while the same oil surge can also raise inflation expectations, Treasury yields, and the U.S. dollar, creating pressure on the metal.

10 Aug 2026 · adawiyyah