Speculative pullback continues, gold prices decline

Golden Ten Data reported on March 20 that gold prices have fallen, and investors are still shifting funds to other assets. Although gold is considered a "safe haven" asset and is usually an ideal savings asset during crises such as the Iran war, gold prices have dropped by 10% since the outbreak of the war, according to a report by Capital Economics economist Kieran Tompkins. "This is both due to a sharp rise in US real yields and because over the past year or so, gold has increasingly behaved like a risk asset," Tompkins also stated. He added that this decline is also related to waning interest from retail investors. Capital Economics previously predicted that by the end of 2026, gold prices would fall to $3,500 per ounce.