The expectation that gold bullion and gold mining stocks going up during war is not occurring. I'm no expert but in the absence of spectacular company news (announcements), I think our share price is likely to stagnate or drift lower the longer the war lasts. The choking of the Strait of Hormuz is causing an oil shock which will turbo charge inflation and kill off economic growth. Without economic growth wealth is not generated or available to buy gold - demand is reduced. Furthermore, interest rates will go up making cash more attractive because gold bullion doesn't attract bank interest.
We should all be hoping this war ends as soon as possible. Trump is unfortunately emboldened by the USA's oil self sufficiency whereas China is very reliant on oil from the Persian Gulf.
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