Spot gold fell 0.6% to $4,712.50/oz, briefly dipping below $4,700 amid heightened US‑Iran tensions.
Strengthening dollar, supported by Fed nominee Kevin Warsh’s non‑dovish stance, pressured precious metals, with silver down 2% and platinum down 1.4%.
Oil prices rose above $100/barrel as Hormuz supply constraints persisted, fueling concerns and expectations of no Fed rate cuts for six months.