Gold (XAU/USD) holds steady near $5,200 as markets weigh Middle East tensions against upcoming US CPI inflation data. A hotter-than-expected reading could bolster the US Dollar and pressure the yellow metal in the near term.

USD/JPY trades near 158.00 as risk-off sentiment counters hints of geopolitical de-escalation. While technicals show potential for a pullback toward 157.27, a push above 158.90 risks triggering Japanese intervention between 159.00 and 160.00.

Gold and silver prices defy conventional wisdom, failing to sustain rallies despite the Iran conflict. While futures remain below recent peaks, historical volatility suggests a non-linear relationship between war and precious metals.

Recent oil price pullbacks ignore structural risks in the Strait of Hormuz and surging insurance premiums. Investors should target the midstream sector to capture consistent tolls as global energy supply chains face permanent disruption.