Oil and gold prices move higher, Carnival cuts 2026 outlook

Geopolitical risk is doing exactly what it should - driving capital into real money. Oil spiking on Iran concerns creates a perfect storm for gold. Inflation fears from energy costs plus safe haven demand equals higher prices. At $4507, we're seeing institutional money finally wake up to what stackers have known for years. The correlation between Middle East tensions and precious metals remains rock solid. Physical premiums are holding steady, which tells me this move has legs. COMEX inventory draws continue while central banks keep buying. Every geopolitical flare-up reminds the market why gold belongs in every portfolio.