‘There’s no safe place here’: Kuwaiti tanker hit by Iranian drone attack in Dubai port

For precious metals, this is supportive on a risk-off / inflation channel rather than through direct bullion fundamentals. If tanker attacks continue or Hormuz fears deepen, gold should retain safe-haven support and inflation expectations may stay bid; the immediate catalyst to watch is whether Gulf shipping remains disrupted and whether crude sustains gains above the recent $118/bbl area, which would reinforce broader hedging demand.