Gold's largest single-week decline in 43 years was primarily due to:

①Middle East US-Iran conflict (Strait of Hormuz/Persian Gulf) causing energy prices to surge, pushing up global inflation expectations; escalation of conflicts seriously disrupting oil transportation, with supply chain costs rising substantially.
②Major global central banks collectively turning hawkish, with rate cut expectations cooling significantly, with market expectations for rate cuts in 2026 reduced from 2 times to 1 time or even fewer.
③Excessive prior gains, crowded speculative positions + profit-taking + stampede effects.

This is not a failure of "buying gold in troubled times," but rather a market trading shift from "hedging against uncertainty" to "stagflation concerns + monetary policy tightening," with gold being "reverse crushed" in the short term.

Watch for support levels below: 4410-4210#TradFi首创多倍杠杆