Gold prices have risen due to the escalation of the conflict between Israel and Iran, briefly surpassing $3450 per ounce on Monday, approaching record highs. Geopolitical risks and the threat of Trump's tariff policies to the global economy are the main driving factors, while Central Bank diversification is also a key factor.

Former U.S. Treasury Secretary Yellen expressed concerns about the weakening of trust among allies caused by Trump's policies, pointing out that investors are starting to avoid U.S. assets. She believes that the surge in U.S. Treasury yields raises questions about the safety of the cornerstone of the global financial system, suggesting that there should not be a blind issuance of short-term bonds to combat long-term interest rate rise, emphasizing that regular and predictable bond issuance to meet market demand is more important.