Despite the US-Iran war generally boosting safe-haven assets, gold prices have dropped to $5,000 per ounce due to the strengthening of the US dollar. Analysts believe that the decline in gold prices is caused by market expectations that the Federal Reserve will keep interest rates high to counteract inflation triggered by the war, which in turn supports the dollar. Christopher Wackio of Tastylive points out that investor sentiment is low, highlighting their current preference for dollar liquidity. Although short-term pressures remain, experts like Ole Hansen of Saxo Bank forecast that fiscal debt and geopolitical factors will provide long-term support for gold prices. Rashhad Hajiyev warns that sharp reversals in precious metals prices could still shock the market.