On March 21, due to the escalation of Middle East tensions and changes in interest rate expectations, gold prices experienced a sharp decline, marking the largest weekly drop since 1983. Spot gold fell to about $4,488 per ounce on Friday, with a weekly decline of approximately 11%, and a total decline of over 15% since the end of February.

Market analysts believe that the Federal Reserve may keep interest rates unchanged for the rest of the year, and Powell's remarks on rising inflation have weakened gold's attractiveness. Meanwhile, against the backdrop of the Iran conflict, Bitcoin performed relatively better, rebounding over 11% during this period, highlighting a stark contrast with gold.