Middle East Tensions Weigh on Gold Prices

Gold prices have taken a hit on Monday, falling by 0.3% to $4,362.60 per ounce as market participants assess the latest developments in the Middle East and their implications for inflation and interest rates.

The Iran-US tensions continue to dominate global markets, with President Donald Trump warning that if Iran doesn't make a deal, it will either fail economically or face regime change.

Tim Waterer, chief market analyst at KCM Trade, believes that gold's price movement will be largely influenced by oil prices and bond yields in the near term. He predicts that gold may trade within a $4,200 to $4,580 range until further notice.