Gold Draws Safe-Haven Bids as Gulf Tanker Rates Hit $800K

Supertanker rates on the Middle East-to-China route spiked to $800,000 a day after US strikes on Iranian-linked vessels, reflecting deepening Gulf conflict risk. Such escalation typically fuels haven flows into gold as investors price in supply disruption and broader energy-driven volatility.

With Strait of Hormuz shipments effectively halted since March and Saudi output down 1.9 million bpd, oil-driven uncertainty is spilling into wider risk sentiment. XAU/USD tends to firm when energy markets show this level of stress, as traders hedge against prolonged geopolitical friction.

EIA's outlook pushing a full Middle East production recovery to Q2 2027 suggests this risk premium in gold could persist well into next year, reinforcing its role as a hedge against sustained crude supply disruptions.