What Just Happened — and Why It Matters This is not a normal market week for gold. After U.S.-Israeli strikes killed Iranian Supreme Leader Khamenei on February 28th and the Strait of Hormuz effectively shut down for commercial shipping, gold spiked to 5,421 — and then did something every developing trader should notice. It sold off. By Friday, gold had retreated to around 5,172, down roughly 1.1% on the day, during an active military conflict. That behavior is telling you something. Let’s break down what’s driving gold, what the chart is saying, and how to think about managing risk around two realistic scenarios this week.
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