📉 Gold Prices Drop Below $4,700 – Key Highlights • Gold fell sharply below $4,700/oz in early Asian trading • Price failed to break the strong resistance near $4,800 • Monthly high was around $4,890, followed by heavy selling pressure • Main reason: Trump’s comments on Iran increased market uncertainty • Iranian Revolutionary Guard seized 2 ships in the Strait of Hormuz • Rising geopolitical tensions supported the US Dollar Index (DXY) • Oil prices moved above $100/barrel, increasing inflation concerns • Stronger US dollar created negative pressure on gold prices • Important support zone: $4,680 – $4,600 • Key resistance zone: $4,750 – $4,800