Spot gold fell 1.1% to $4,688.96 per ounce, breaking below the $4,700‑$4,900 range seen over the past two weeks.
Oil prices surged above $103 a barrel amid the U.S.–Iran standoff, reviving concerns of an energy‑linked inflation shock.
A firmer U.S. dollar, on track for its first weekly rise in a month, pressured gold and other precious metals.
Spot silver fell 4.3% to $74.37/oz and platinum dropped 3.5% to $2,005.92/oz, reflecting broader metal weakness.