Gold continues to decline: Middle East ceasefire at risk due to Iran conflict.

After Israel and Iran launched missile attacks on each other, the price of gold continued to fall. The fragile ceasefire agreement is in jeopardy, and market expectations for an end to the conflict have cooled. The conflict has disrupted energy flow, pushed up oil prices, exacerbated global inflation concerns, and made central banks more inclined to maintain or raise interest rates, posing headwinds for precious metals. The price of gold fell by 1.4% at one point, dropping below $4270 per ounce, before narrowing its decline; by 2:45 PM Singapore time, spot gold was trading at $4298.07 per ounce.