According to Jinshi Data, why did gold prices fall after the US and Israel attacked Iran? On February 28 local time, the US and Israel attacked Iran, triggering global risk aversion sentiment. Market analysts believe that prices of precious metals such as gold are set to surge significantly. However, it is worth noting that after the rise on February 28, the gold over-the-counter market experienced a sharp drop on March 1. Pan Helin, an economist and member of the Information and Communication Economy Expert Committee of the Ministry of Industry and Information Technology, stated that the death of Iran's Supreme Leader Khamenei has altered short-term market expectations, leading to the belief that the situation in Iran may stabilize rapidly. If it can be further verified that Iran can achieve a smooth political transition after Khamenei's death, the capital market may not rule out a comprehensive reversal of expectations—namely, a decline in gold and oil prices, and a rise in US stock markets, particularly industrial stocks. However, war is uncertain, and Khamenei's death could also plunge Iran's situation further into chaos.