Growing concerns over war in Iran as gold prices continue their tenth consecutive drop.

As investors weighed contradictory statements about the Middle East war, the price of gold fell; previously, the announcement by the United States to postpone the strike on Iran's energy infrastructure only gave this precious metal a brief respite during the intense drop in wartime. During volatile trading hours, the price of gold fell by 2%, while earlier it had risen by nearly 1%, with its trend primarily following the stock market and moving in the opposite direction of oil prices. U.S. President Donald Trump announced on Monday local time that he would postpone the previously threatened strike on Iran's energy infrastructure for five days, stating that "productive dialogue" had taken place, but Iranian officials denied having had any negotiations with the United States, and U.S. allies in the Persian Gulf are gradually getting closer to joining military action against Iran. This conflict has led to high energy prices and exacerbated inflation risks, prompting investors to sell relatively liquid and profitable gold positions and invest in other assets. Gold fell nearly 2% in the previous trading day, marking the ninth consecutive day of decline. If it continues to fall for 10 days, it will be the longest consecutive decline in history.