Gold Falls 2%, Oil Rises 5%

Gold spot fell 2% to $4,523.88/oz and futures dropped 2.4% to $4,532.40/oz amid a stronger dollar.
Brent crude July futures surged over 5% as renewed Middle East tensions, including US “Project Freedom” and Iranian attacks, spiked oil prices.
US dollar strengthened as investors view it safe haven, pressuring non‑yielding gold amid expectations of hawkish central‑bank policies.
Iranian missile and drone attacks hit UAE’s Fujairah Oil Industry Zone, injuring three Indian nationals and threatening regional oil storage.