Trump threatens to escalate strikes against Iran, causing gold prices to drop.

President Trump once again threatens to destroy Iran's nuclear power plant, but there is little indication from Tehran that they will accept the US demand to end the Middle East conflict. As a result, the price of gold has fallen. In early trading, gold fell by 1.3%, following a 1.7% drop in the previous trading day. Over the weekend, Trump posted on social media that if Iran does not open the Strait of Hormuz, the US will make Iran hell; however, Tehran refuses to accept this ultimatum and continues to target the region's energy infrastructure. Since the conflict broke out over a month ago, the price of gold has continued to decline. This is due to soaring energy prices exacerbating inflation concerns and reducing expectations of rate cuts. Meanwhile, investors are forced to liquidate positions to offset losses in other areas, weakening the appeal of gold as a safe haven. As of the time of writing, spot gold has fallen by 1% to $4,630.08 per ounce; silver has fallen by 1.4% to $72.04; and platinum and palladium are also down in sync.