Middle East Situation Flares Again, Gold Drops Below $4,900 Mark.

TradingKey - Gold prices unexpectedly weakened, falling below the key $4,900 mark, while energy markets heated up rapidly due to geopolitical risks. During intraday trading, Brent crude once again broke through $100 per barrel.

On the news front, Iran stated that its oil and gas infrastructure had been attacked, causing market concerns about Middle East supply disruptions to escalate quickly. As a critical corridor for global energy transportation, the security of the Strait of Hormuz has once again become a focal point; any further escalation of the situation could deliver a material shock to global crude oil supply.

Meanwhile, Donald Trump stated via social media on March 18 local time that the U.S. is considering further measures against the current Iranian regime, emphasizing that countries dependent on shipping through the Strait of Hormuz should bear the relevant security responsibilities rather than having them led entirely by the U.S. This statement was interpreted by the market as a sign that geopolitical risks could spill over further.

The market is currently in a "risk repricing" phase: on one hand, oil prices are rising rapidly due to supply concerns; on the other hand, the short-term weakness in gold may be related to changes in the U.S. dollar and interest rate expectations. However, if the conflict continues to escalate, gold could still regain support as a safe-haven asset, and market volatility may be further amplified.