[Middle East Conflict Resurges, Oil Prices and Dollar Rise Together, Dragging Gold Prices Down] According to a report by Jinse Finance, on June 10, the renewed conflict between the U.S. and Iran caused both the dollar and oil prices to rise, intensifying market concerns over inflation and interest rate hikes. Spot gold once dropped more than 2%, hitting an 11-week low. Tastylive Global Macro Director Ilya Spivak stated that the real driving factors are the shift in Federal Reserve policy expectations, rising yields, and the strengthening dollar. 'I believe these factors are all putting pressure on gold,' he said. After former President Trump claimed that Iran shot down a U.S. Apache helicopter in the Strait of Hormuz, the U.S. launched strikes against Iran on Tuesday. This incident deepened market doubts about a potential peace agreement and further exacerbated an already fragile ceasefire situation. The market is now awaiting the release of a key U.S. inflation report to gauge the Federal Reserve's monetary policy stance. Spivak also mentioned that if gold prices fall below the $4,100 threshold, the support level for gold will fundamentally shift, and by the end of the year, we might be looking at the next threshold of $3,500. (Jin10)