Gold prices began new week with a decline amid reescalating tensions in the Middle East region on Monday.
Ounce price of gold saw below $4,300 threshold as 0600GMT on Monday, down 0.7% from the last week’s close.
On a weekly basis, gold prices dropped more than 4% and 9.2% on a monthly basis.
Iran launched missiles toward northern Israel late Sunday in its first such bombardment since a fragile April ceasefire, following Israeli strikes on Beirut’s southern suburbs earlier in the day.
An Israeli airstrike targeted a petrochemical firm in Mahshahr in southwestern Iran on Monday, causing partial damage to the industrial complex, Iranian officials said.
The Israeli army later announced that the air force targeted several sites at the petrochemical complex, adding that further details would follow.