Look at the chart: Gold continues to rise, bargain buyers ignore the escalation of the US-Iran situation.

Despite the escalating tensions in the Middle East putting pressure on the market, gold prices continued to rise with the support of bargain-hunting buying interest. Gold prices briefly rose by 1.6% during the session, breaking through $4140 per ounce, further extending the nearly 2% increase from the previous trading day. Silver prices also rose towards $60 per ounce. The current high US treasury yields and the ongoing conflict between the US and Iran show no signs of easing. This momentum has led to a significant amount of funds flowing into ETFs, with data showing that total holdings in gold ETFs increased by about 7.4 tons on Tuesday, marking the highest single-day net inflow in over a month. At the same time, CFTC weekly futures and options data showed that fund managers' net long positions in gold increased by 4,293 contracts, reaching 119,147 contracts.