Gold down 23% since February, around $4,000 after U.S.-Iran clashes
Business
Gold prices slid to around $4,000 an ounce on Monday after new clashes between the US and Iran disrupted oil shipments in a key global route.
Since February, gold has dropped 23%, mainly because inflation worries have been rising after recent strikes in the region.
Oil is getting pricier too, making shipping more expensive and adding to the uncertainty.
Metals slip as buyers support gold
It's not just gold feeling the pressure: silver fell 1.1%, while platinum and palladium also slipped as the dollar got a bit stronger.
Still, analysts say buyers are stepping in whenever gold dips near $4,000, helping it stay steady for now even with all the ongoing drama in the Middle East.