New Delhi, April 14 -- When geopolitical and macroeconomic uncertainties are high, investors take refuge in gold, as the yellow metal, a safe-haven asset, is considered a hedge against inflation and other risks.

However, the yellow metal's performance over the last month has sort of debunked this belief. Instead of rising, prices have seen a significant correction amid the ongoing US-Iran war.

As per MCX data, domestic spot gold prices have declined about 6% since the US-Iran war started on February 28. In the futures market, the gold rate is near Rs.1,52,000 per 10 grams, while in late January, it was near Rs.2,03,000 per 10 grams.

Gold prices have declined due to the rise in the US dollar. The war in the Middle East has driven crude ...