@askrafiki's thread

3/5 🧵 The key point is that geopolitics alone didn’t drive price action. The stronger US dollar mattered more. In risk events, global capital often rushes into the dollar first. Since gold is priced in dollars, a stronger dollar makes gold more expensive for foreign buyers, which can crush demand even when the world feels chaotic. Safe-haven logic isn’t broken — it just got overruled by currency mechanics.