Gold, silver, and platinum have seen a sharp decline in value due to the ongoing Iran war. Spot gold has dropped 7.8% to its lowest point of $4,126.36.09. Meanwhile, silver futures were down 8.3% at $62.24. The decline also extended to 10.6% and 6.7% respectively. The Iran conflict is also raising concerns about inflation and rising energy prices. However, euro zone government bond yields have surged.