Gold Price Forecast | Fed Pressure, Hormuz Disruption - Capital.com

The Strait of Hormuz carries 20% of global oil through a 21-mile chokepoint. Any disruption there sends energy costs through the roof, which historically drives institutional money into gold as an inflation hedge. Meanwhile, the Fed's dovish pivot talk is weakening dollar support just as COMEX registered gold sits near multi-year lows. I'm watching the physical premiums closely here. When geopolitical risk meets monetary policy uncertainty, the paper-to-physical disconnect widens fast. Central banks have been net buyers for 13 straight quarters for exactly these scenarios. The gold-to-oil ratio is telling us something important about energy security and monetary debasement converging.