Gold spot fell 0.6% to $4,802.83/oz and futures dropped 1.2% to $4,822.45/oz amid renewed US‑Iran tensions.
Oil prices surged up to 7% on Monday, driven by fears of inflationary impact from the Iran conflict.
Spot silver slipped 0.5% to $80.46/oz, while platinum held at $2,106.35/oz; silver outpaced gold after supply‑deficit report.
US forces captured an Iranian vessel in the Strait of Hormuz; President Donald Trump announced envoys heading to Pakistan for ceasefire talks.