Mind "Noise" in Gold & Crude Oil, Navigating Volatility in Commodities

David McAlvany tells Schwab Network that recent swings in gold (XAUUSD) and crude oil reflect headline-driven volatility and short-term “noise” rather than durable trend signals. He argues gold’s fundamentals remain strong over the long term, supporting a bullish structural case, while cautioning that crude oil prices should be watched for geopolitically driven moves tied to energy insecurities around the Strait of Hormuz. The takeaway for markets: expect headline-driven intraday volatility in both commodities, but fundamental drivers (for gold) and geopolitical risk (for oil) will determine medium-to-long-term direction.