Analyst: The easing of tensions in Iran and the weakening expectations of interest rate cuts have caused a slight drop in the price of gold.

Due to better-than-expected economic data in the United States, market expectations for an early rate cut by the Federal Reserve have decreased. In addition, the easing of geopolitical tensions has led to a decreased demand for safe-haven assets such as gold, causing the price of gold to continue falling on Friday. Capital.com analyst Kyle Rodda stated, "The decline in gold prices is mainly due to the reduced probability of the United States intervening in the social unrest in Iran... and the data we have received from the United States indicates that there is currently no urgent need to lower interest rates."