The US-Iran talks have collapsed, and the Strait of Hormuz is in crisis. Don't just look at oil, focus on gold.

Trump threatens a naval blockade, and the global energy artery is in danger. Oil is indeed rising, but I want to remind you: gold is the "safe haven" in this crisis.
Three sentences to understand the situation:
Oil is suitable for speculation, gold is suitable for holding. The former looks at supply and demand, the latter at order.
Gold reaching a new historical high is no coincidence. This is a "lack of confidence" vote from global central banks in the US dollar's credit.
Ultimate hedge. If the strait really gets blocked, geopolitical premiums will cause gold's price to surge dramatically, far more stable than oil.