"Gold prices plunge in the dark market"

Why did the gold price drop after the US-Israeli attack on Iran on February 28th local time? The US-Israel attack on Iran triggered global risk aversion. Market analysis believes that the prices of gold and other precious metals will experience a significant increase. However, it is worth noting that after experiencing an increase on February 28th, the price of gold plummeted on March 1st. Pan Helin, an economist and a member of the Expert Committee on Information and Communication Economy of the Ministry of Industry and Information Technology, stated that the death of Iranian Supreme Leader Ayatollah Khamenei has changed short-term market expectations, believing that the situation in Iran may stabilize quickly. If it can be further confirmed that Iran can smoothly transition its political power after Khamenei's death, then the capital market may expect a complete reversal, with the prices of gold and oil falling and especially the US stock market, particularly industrial stocks, rising. However, wars are unpredictable, and Khamenei's death may further plunge Iran into chaos.