Wall Street Posts Fifth Consecutive Week of Declines; Markets Driven by Iran War Headlines

Gold fell to $4,434/oz from recent highs above $4,500 and silver dropped further, reversing months of gains driven by geopolitical risk hedging. The sell-off reflects dollar strengthening as the US currency becomes the primary safe-haven beneficiary of the Iran war. The dollar index has risen as capital flows into US assets despite the conflict. Bitcoin fell back to $66,000, erasing gains. Analysts note the disconnect between rising geopolitical risk and falling gold prices signals a shift in market positioning from commodity hedges to currency safety.