Group 1 - Gold prices have declined for seven consecutive sessions, influenced by the escalating conflict in the Middle East, which has driven oil prices higher and diminished the likelihood of a near-term US interest rate cut [1][2] - Silver has experienced a significant drop, slumping more than 10% [1] - The ongoing war has raised inflationary risks due to soaring crude and gas prices, making rate cuts by the Federal Reserve and other central banks less probable, which negatively impacts gold as it does not yield interest [1][3] Group 2 - Gold-backed exchange-traded funds (ETFs) have seen persistent outflows recently, which has contributed to the downward pressure on gold prices; demand for these ETFs is particularly sensitive to changes in interest rates [4] - Despite the recent downturn, gold is still up nearly 6% year-to-date, although upward momentum has stalled as the prospects for a near-term rate cut have diminished [7] - Spot gold was reported at $4,564.16 per ounce, down 5.3%, while silver was at $67.21, reflecting a more than 10% decline [7]