Gold spot fell 0.2% to $4,730.15/oz and futures 0.1% to $4,747.16/oz amid a stronger dollar and oil price surge.
Oil prices rose above $103 per barrel due to US‑Iran tensions in the Strait of Hormuz, sparking inflation and rate‑hike concerns.
The dollar posted its first weekly gain in a month, pressuring bullion; silver and platinum also dropped 4.3% and 3.5% respectively.
Jake Behan of Direxion noted a shift to earnings‑driven markets and AI capex rotation despite the ongoing Iran conflict.