[Gold Prices Plunge in Grey Market] On February 28th local time, the US and Israel attacked Iran, triggering global risk aversion. Market analysts believed that gold and other precious metal prices would see a significant rise. However, it is worth noting that after rising on February 28th, gold prices in grey market plunged on March 1st. Pan Helin, an economist and member of the Expert Committee on Information and Communication Economics of the Ministry of Industry and Information Technology, stated that the death of Iranian Supreme Leader Khamenei has changed short-term market expectations, suggesting that the situation in Iran may stabilize quickly. If it can be further verified that Iran can smoothly achieve a transition of power after Khamenei's death, then a complete reversal of expectations in the capital market cannot be ruled out, i.e., a drop in gold and oil prices, and a rise in US stocks, especially industrial stocks. However, war is uncertain, and Khamenei's death could also further plunge the situation in Iran into chaos.
