Gold drops after Iran threat

Gold prices sharply declined globally at the start of the week's trading, dropping by 0.80% to nearly $4,414 in spot transactions. This decline was due to the escalation of military tensions in the Middle East, which led to rising oil prices and increased inflation, putting pressure on the precious metal's price. Additionally, gold futures fell by over 1.3%, approaching $4,470, amid notable selling activity in the Asian market. Last week, gold experienced a 3.2% decline after a three-week upward trend, with prices falling from $4,609 per ounce to a low of $4,445. This occurred after approaching a record near $4,700 during a period of profit-taking and correction, amidst a strengthening dollar and rising U.S. bond yields.

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تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي

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