Why gold hasn't moved since the Iran conflict — and where it could go next

Group 1 - Gold prices increased on Tuesday due to a dip in the dollar and easing oil prices, following U.S. President Trump's comments on a potential end to the Middle East conflict [1] - Gold rose from $5,296 to $5,423 per troy ounce after U.S. and Israel strikes on Iran, demonstrating the trend of investors seeking safe haven assets during geopolitical turmoil [2] - Despite the ongoing conflict, gold prices have remained relatively stable, trading between $5,050 and $5,200 [1][2] Group 2 - Factors contributing to the lack of upward momentum in gold prices include a stronger dollar and higher Treasury yields, which make yielding assets more attractive compared to non-yielding precious metals [3][4] - Rising oil prices may lead to prolonged inflation and higher interest rates, impacting gold's appeal as a safe haven asset [3] - Institutional investors are showing caution towards holding bullion due to its recent volatility [4] Group 3 - Conflicts can trigger panic selling among investors, leading to a "flush" where traders are forced to sell positions as prices decline [5] - Bank forecasts remain optimistic, with J.P. Morgan predicting gold prices will reach $6,300 per ounce by the end of 2026, and Deutsche Bank maintaining a $6,000 year-end target [5]