Sudden change! Silver plunges sharply, gold pulls back! U.S. stocks fall collectively! Trump, latest statement!

In the evening, gold and silver prices suddenly changed direction.

As of the time of writing, spot gold remains up, but has sharply dropped from previous highs, while spot silver has fallen even more sharply, down over 4% as of the report. This decline may be related to profit-taking, although the Middle East situation remains uncertain. Since last year, gold and silver have experienced significant gains this year, and after the US and Israel targeted Iran, they have entered a new round of rising prices. Profit-takers may choose to lock in gains.

In the US stock market, after opening, the three major indices declined but the decline narrowed.

Regarding Chinese concept stocks, the Nasdaq Golden Dragon China Index fell over 2%. Zai Lab dropped more than 8%, Xiaoma Zhixing fell 6%, and Kingsoft Cloud declined over 5%.

After the US and Israel launched strikes against Iran, on March 2 local time, US President Trump stated that UK Prime Minister Stamer had previously prevented the US from using military bases on the Chagos Islands to strike Iran, and he was “very disappointed” about it.

It is reported that the UK previously refused to allow the US to use the base to strike Iran, citing international law. Stamer issued a statement on the evening of March 1, saying he had agreed to the US using the military base for “specific and limited” defensive purposes.

In an interview with the media, Trump said that Stamer’s change of attitude “took too long,” which had “never happened” between the two countries. Stamer should have allowed the US to use the base from the start.

Additionally, US Secretary of Defense Hagelstein held a press conference regarding the “Epic Fury” operation against Iran.

Hagelstein stated that the US mission in Iran is to destroy Iran’s missiles and navy, and to prevent Iran from developing nuclear weapons.

Hagelstein said US ground forces have not yet deployed inside Iran, but the US does not rule out taking any action. He also said President Trump has the authority to decide the timing of Iran-related operations.

On March 2 local time, the Israel Defense Forces (IDF) stated that the current military operations against Iran are expected to last more than a week. The IDF said they seek heavy strikes against Iran but emphasized that it will take more than a few days to achieve this.

The IDF stated that recent airstrikes targeted facilities belonging to the Iranian Islamic Revolutionary Guard Corps, ballistic missile launch sites, and air defense facilities.

The IDF also said that nuclear facilities have not yet become targets but are included in the list of targets for Israel and the US.