The turbulent international situation has pushed up the price of gold. The international gold price hit a record high of $2,400 per ounce earlier this month. However, June gold futures plunged by about 2.5% in early trading on Monday (22nd), recording the largest single-day drop in two years. According to Forbes, gold futures fell to $2,350 per ounce in early trading on Monday, the largest daily drop since June 13, 2022. Although the price of gold has fallen by about 4% from $2,400 at the beginning of the month, the price of gold has still risen by 14% so far this year, far higher than the 5% of the S&P 500 index. Last week, the conflict between Israel and Iran raised concerns about a full-scale war in the Middle East, but tensions eased over the weekend. Since gold has been able to effectively maintain its value regardless of political systems, wars or stock market crashes in the past, gold is regarded as the safest asset in the face of geopolitical instability and high inflation. Therefore, the cooling of the situation in the Middle East has weakened investors' demand for risk aversion. Bank of America also said in a report that the impact of tensions in the Middle East on the U.S. stock market and other asset classes may not be as direct as it seemed in the past two weeks. Gold prices have skyrocketed in recent years, rising more than 50% since the coronavirus outbreak in February 2020, and nearly 20% in the past two months. While general investors have helped boost gold prices, the biggest buyers are central banks, especially China, which is simply flocking to gold. #BinanceRiskSniper