Gold is slightly declining, but it seems to be related to recent geopolitical developments. Physical gold has fallen to around $4,835 per ounce. Last week, there were positive signals between the U.S. and Iran, so there was hope that tensions in the Strait of Hormuz might ease. As a result, crude oil prices also dropped, and inflation concerns eased. With that trend, gold appears to be entering a correction phase. From a technical perspective, there may also be short-term profit-taking selling. However, future movements in gold will likely be heavily influenced by how these geopolitical negotiations progress. Depending on diplomatic developments, there could be another round of gold buying, or if tensions escalate, gold may become more attractive. For now, it seems necessary to closely monitor gold's trend.