The renewed tension between the US and Iran has sparked cautious sentiments, causing gold prices to fall.

In early European trading, as tensions between the United States and Iran reignite, traders are feeling concerned as gold prices fall below $4,500 per ounce, failing to hold onto the gains made earlier in the week. Analysts at SocGen Financial said, "Caution and optimism surrounding US-Iran negotiations have improved overall market sentiment." They also stated, "However, confidence in reaching a solution in the short term remains limited." New York gold futures fell 0.4% to $4,483.80 per ounce. Meanwhile, investors are awaiting some speeches from Federal Reserve officials to gain more clues about monetary policy.