Gold prices have significantly declined, falling below $4,650 per ounce, driven by a robust U.S. dollar and heightened expectations for interest rate increases. On Tuesday, gold futures were reported at $4,671.85, while spot gold was at $4,644.56. This drop is unusual given the rising geopolitical tensions in the Middle East, particularly around the Strait of Hormuz, which typically bolster demand for safe-haven assets like gold. However, the strong dollar makes gold more expensive for international buyers, reducing demand. Additionally, investors are adjusting their positions after a previous rally, leading to profit-taking. Silver prices have also suffered, falling over 2% to approximately $71, impacted by both investment and industrial demand concerns. Platinum and copper followed suit, with platinum prices down 2.53% and copper slightly easing to $5.57. Central bank purchases, particularly from the People's Bank of China, have provided some support for gold, but this is not enough to counteract the prevailing macroeconomic pressures. Investors are closely monitoring key levels for silver, with support around $68.30 and resistance near $75.