Gold has fallen out of the worst week since 1983

The war has lasted for weeks,

Gold has fallen out of the worst week since 1983,

BTC is also falling. The only 'safe-haven asset (buhsi' that is rising is oil.

Trump posted a Truth Social last night, giving Iran a 48-hour ultimatum: reopen the Strait of Hormuz, or I will bomb your power plant, starting with the largest one.

Iran responds: If you dare to bomb the power plant, I will completely close the Strait until the power plant is rebuilt. This is the original statement of the Iranian Revolutionary Guard, completely closing.

The big pancake has fallen from around 71000 to 69141, liquidating $463 million in 24 hours. However, our small decline is really nothing in the entire situation.

Brent crude is now $112, about $72 at the beginning of the year. It has risen 55% in four weeks. The price of American oil has risen one dollar per gallon in a month.

Iraq has directly declared a force majeure on oil, cutting production from 3.3 million barrels per day to 900,000 barrels. Goldman Sachs says oil prices could reach 130.

What about gold? The ultimate safe-haven asset in textbooks has fallen more than 10% this week, the worst single week since 1983. It has dropped from a high of $5500 in January to now $4490, a drop of nearly 18%, and is approaching a technical bear market.

The reason is quite counterintuitive: the surge in oil prices pushes up inflation expectations, and the Federal Reserve has stated that there may only be one rate cut this year, or even none. Higher rates for a longer time mean that gold, as a zero-yield asset, is directly crushed.

BTC isn't doing that well either. Its correlation with the S&P 500 has reached 88%, and with gold, 92%. Everyone knows it is no longer an independent asset; it is just a high-beta variety that follows macro trends.

So the current situation is like this:

-- The war is escalating, safe-haven assets are falling.

-- Gold is falling, BTC is falling, the stock market is falling.

-- The only thing rising is crude oil.

Textbooks say wars are favorable for safe-haven assets. But in 2026, this war has produced a completely different script: no safe-haven assets, only inflation assets.

In previous wars, the flow of funds was clear: the stock market falls, gold rises, and bonds rise.

But this time is different. This war is directly hitting the global energy supply chain, and the Strait of Hormuz carries 20% of the world's oil. The war itself has created inflation, and inflation is forcing central banks to maintain high interest rates, which in turn crushes all assets.

Gold cannot withstand high interest rates, BTC cannot withstand tightening liquidity, and the stock market cannot withstand recession expectations. The only beneficiary is the oil itself.

Monday night. If Iran does not open the strait, and if Trump really takes action, oil prices may head towards 130 or even higher.

By that time, the hot topics and concerns on social media may not be how much BTC has fallen, but how much it costs to fill up a tank of gas.