Although analysts have always emphasized that the long-term investment value of gold remains unchanged, the price of the asset has fallen all the way from 5,600 US dollars/ounce at the beginning of the year and has recently fallen below 4,000 US dollars/ounce, reflecting the market's increasingly cautious attitude towards gold. Bank of America wealth management senior investment strategist Rob Haworth pointed out that the US-Iran conflict must end before the price of gold returns to 5,000 US dollars per ounce. He stressed that although the long-term investment appeal of gold remains, this precious metal continues to face negative pressure as central banks prioritize economic stability and energy security rather than accumulating more gold. As long as the US-Iran conflict continues, the pressure on the gold market will continue. He also added that the US-Iran conflict has led to a major shift in global capital flows as countries facing rising energy and food costs divert resources from diversifying their reserves to other uses. Meanwhile, rising bond yields, a stronger dollar, and growing demand for liquidity are weakening the traditional safe-haven appeal of gold.

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