[Spot Gold Nearly Erases All Gains for the Year] Jin10 Data reported on March 23 that on Monday, spot gold briefly reached $4,320.30 per ounce—less than one dollar higher than the price at the end of last year, nearly erasing all gains for the year. Meanwhile, the war in the Middle East has been ongoing for four weeks, and the U.S. and Iran have exchanged threats of launching new attacks. Since the conflict began, rising oil prices have increased inflation risks and reduced the likelihood of the Federal Reserve and other central banks cutting interest rates in the short term. This has been a negative factor for gold, which has fallen for eight consecutive trading days and recently recorded its largest weekly decline since 1983. (Capital.com) Analyst Kyle Rodda stated that due to technical factors, 'gold is likely to see a short-term rebound,' largely depending on 'whether Trump follows through on his threat to strike Iran's power plants.'