The precious metals market is catching its breath. While geopolitical tensions typically send traders scrambling toward safe havens, the vibe has shifted—investors are parsing through upcoming US economic data instead.

It's a classic case of attention economics in trading. Yes, the headlines are tense, but macro data matters more right now. When you're thinking about portfolio hedges and risk allocation, hard numbers from the Fed carry more weight than political posturing.

Gold's steady performance reflects this recalibration. The market isn't dismissing geopolitical risk entirely; it's just weighing it against real economic fundamentals. Traders know that inflation trends, employment figures, and interest rate signals will ultimately drive precious metals prices more than short-term headlines.

For those managing multi-asset portfolios, this moment is instructive. It shows how quickly market sentiment can pivot from fear-driven to data-driven. Keep one eye on the headlines, sure, but the other should be locked on the economic calendar.