Gold Holds Safe-Haven Bid as Iran War Drags Into Month Seven

Seven months into the Iran conflict, talk in Washington and Tel Aviv of ground operations against Kharg Island or inland nuclear sites signals the war is far from resolved. That persistent uncertainty continues to underpin gold's traditional role as a crisis hedge for XAU/USD traders.

Markets pricing in prolonged Middle East instability tend to favor non-yielding safe havens over risk assets. With sulfur shipments through the Strait of Hormuz reportedly near zero and supply chains disrupted, investors are watching for second-round effects on inflation that could further support bullion.

Any escalation toward direct troop involvement would likely trigger renewed flows into gold as portfolio insurance, even as traders weigh the metal against a potentially stronger dollar in a full-scale conflict scenario.