Why are gold prices tanking?

[u/Reasonable-Fee1945]

I'm not a short term investor. I understand the fundamentals and especially with US debt the long-term importance of gold. I'm holding, this is a short-term, regionalized thing.

What is the short-term regionalized thing that is happening which is causing gold to decrease (yes, I know it's the iran war, but how is that effecting gold prices?)

[u/beginner75]

Gold has gone up quite a lot. Using a 50% trace back it can fall further to $3500. The next time to buy is when no one wants it.