The impact of Khamenei's death on gold prices! 1. The Middle East suddenly exploded: Iran's supreme leader is gone, and the world's most feared place of chaos is chaotic again. People's first reaction is to buy gold as a safe haven, and prices are prone to skyrocketing. 2. Afraid of Iran's retaliation escalation: Iran may resort to violence or even block the Strait of Hormuz, causing a surge in oil prices → inflation concerns → gold becoming more fragrant, directly boosting gold prices. 3. Global risk aversion is exploding: the stock market and risky assets have plummeted, and funds have gone to gold and treasury bond like frightened birds. The short-term gold price has benefited most. 4. Oil Crisis 2.0 Version: If the strait is really blocked, oil prices may double, and every major oil price shock in history has led to a surge in gold prices. 5. The US dollar may weaken in the short term: During geopolitical turmoil, the US dollar may not always be strong, and safe haven funds may prefer borderless gold. 6. Iran's political vacuum period uncertain: who will take over? Will there be an internal conflict? The more chaotic and prolonged the situation, the less likely the market is to bet that it's okay, and the easier it is for gold to maintain a high level. 7. Inflation expectations ignited: With the rise of oil prices, global prices have also risen, and gold, as an anti inflation tool, has become increasingly attractive. 8. The demand for physical gold has soared: people in the Middle East, India, Türkiye, China and other places are most afraid of the troubled times. The first thing is to buy gold bars and coins. Physical demand drives up prices. 9. If retaliation is limited, the gold price may rebound: If Iran only symbolically hits twice and then closes, the risk aversion will recede, and the gold price is likely to plummet from a high level and fall back partially. 10. In the long run, it is still bullish fuel: even if it rises and falls in the short term, as long as the Middle East is not completely calm, the geopolitical risk premium will continue to support gold, and the bull market ceiling will be raised. In summary, there is a high probability of a short-term surge in gold prices. In the medium term, we will see how Iran retaliates and whether the situation will get out of control. In the long run, as long as the Middle East does not completely calm down, it will be difficult for gold to really fall sharply and remain bullish!