Gold Gains as Trump Extends Deadline for Talks to End Iran War

Trump kicking the can down the road on Iran talks means uncertainty stays elevated. Gold's 2.3% pop to $4,475 shows the market pricing in extended geopolitical risk. This isn't just about Middle East tensions anymore. It's about dollar credibility when diplomacy fails and military options stay on the table. Central banks have been net buyers for 14 straight months precisely because they see this playbook. When talks collapse, gold rallies. When wars drag on, fiat currencies get printed into oblivion. The COMEX is already showing stress with eligible inventory down 15% this quarter. Any escalation with Iran pushes us toward supply disruptions and energy price spikes. Stack accordingly.