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The Strait of Hormuz is closed again!
What does this mean for gold and crude oil?
Gold: Safe-haven sentiment is at its peak, and the bulls are taking off!
The Strait of Hormuz is a vital global energy artery. The risk of US-Iran negotiations breaking down plus the blockade of the strait have pushed global geopolitical risks to new heights!
As a "hard currency in chaotic times," gold’s safe-haven properties are fully activated! The previous pullback caused by easing tensions has been completely reversed by this wave of news, and gold prices are likely to surge again. Bullish opportunities are here!