Although the escalating tension in the Middle East put pressure on the market, the price of gold continued to rise, supported by bottom-line buying. At one point, the price of gold rose 1.6% intraday, breaking through $4,140 an ounce, further rising from the previous trading day's nearly 2% increase. The price of silver also rose to $60 per ounce. At present, US Treasury yields remain high, and the renewed conflict between the US and Iran has shown no signs of abating. This trend has already prompted a large amount of capital to flow into ETFs. According to statistics, the total holdings of gold ETFs increased by about 7.4 tons on Tuesday, the highest single-day net inflow in more than a month. Meanwhile, CFTC weekly futures and options data showed that fund managers' net long positions in gold increased by 4,293 to 119,147.

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