Gold's sharp sell-off amid escalating tensions in the Middle East has left markets scrambling for answers. Traditionally viewed as a safe-haven asset, bullion would be expected to rally during geopolitical crises. Yet, in the wake of the Iran conflict, the opposite has happened, with gold shedding more than 20% since hitting a record high of $5,594.82 an ounce on 29 January, marking one of its worst monthly performances in over a decade.
