Gold fell due to the possible technical correction.

Following a 3.4% increase in the settlement price of gold futures on Wednesday, gold fell in early trading due to the possibility of a technical correction. Spot gold fell by 0.4% to $4,509.27 per ounce. Bas Kooijman, CEO and asset manager of DHF Capital, stated in an email that if US bond yields rebound and oil prices spike again, gold may continue to face downside risks, especially if negotiations between the US and Iran break down. The CEO and asset manager added, "Gold, as a major commodity, may still be highly sensitive to news on the diplomatic front, developments in the Middle East, and expectations for monetary policy."