Gold prices fell 3% following escalating regional tensions and a renewed US-Iran conflict, which boosted oil markets.
Spot gold dropped 3% to $3,996.76 per ounce, its lowest level since 1 July. US August gold futures fell 2.6% to $4,005.70.
Among other precious metals, silver declined 3.8% to $57.55 per ounce, platinum fell 1.7% to $1,599.47, and palladium dropped 2.1% to $1,249.70.