Spot gold fell 0.8% to $4,535.17 per ounce by 21:37 ET (01:37 GMT) during Asian trade.
Gold futures also declined 0.8% to $4,568.67 per ounce.
Other precious metals retreated: Silver down 2.1% to $76.4495/oz, Platinum down 0.6% to $1,955.02/oz.
The price drop followed fresh U.S. military strikes against Iran, targeting missile launch sites and mine‑laying boats, which dampened optimism about a potential peace framework to reopen the Strait of Hormuz.
The strikes steadied the U.S. dollar after recent losses and caused oil prices to rebound, reviving concerns about energy‑driven inflation.
Market participants fear that higher oil‑linked inflation could prompt more hawkish stances from global central banks, adding downward pressure on gold.
