Gold Falls More Than 1% After Weekend U.S.-Iran Tensions, Spot Gold Breaks Below $4,000

According to Guo Daguang Futures, spot gold fell more than 1% on Monday following renewed tensions between the United States and Iran over the weekend. London spot gold dropped below the key support level of $4,000 per ounce last week before recovering, posting a weekly decline of over 1% and marking the fourth consecutive week of losses. Domestic Shanghai gold declined more than 5% for the week, outpacing losses in international markets.
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