Gold is trading near $4,700 today — evidence that gold is decoupling from geopolitics in real time. It held Wednesday’s 3% peace deal rally even after Axios reported that US Central Command briefed President Trump on Iran strike options, including a plan for a “short and powerful” wave of attacks. Brent crude recovered to around $101–102 a barrel after Wednesday’s sharp drop. When a market stops falling on the catalyst that used to break it, something fundamental has shifted. In March, every Iran escalation signal sent gold lower. Not because war is bad for gold — but because the war’s oil shock was keeping the ... (full story)