Gold and silver prices have sharply declined, with gold reaching a two-month low at $4,447.71 per ounce and silver falling to $74.46 per ounce. The downturn is largely driven by inflation concerns tied to rising crude oil prices and ongoing geopolitical tensions in the Middle East, particularly involving Iran and the US. Analysts note that as inflation rises, the US Federal Reserve is likely to tighten monetary policy, which typically diminishes the appeal of non-yielding assets like gold. Peter Grant, a senior metals strategist, highlighted that investor sentiment has soured amid fears of prolonged conflict in the region. Although there was a brief recovery in gold prices following reports of a potential framework agreement between Iran and the US, uncertainty remains high. Experts suggest that if inflation persists and interest rates rise, precious metals may continue to face downward pressure. Conversely, any escalation in geopolitical tensions could increase safe-haven demand for gold. Silver, which also saw a significant decline, is expected to remain strong in the long term despite current pressures.