Gold drops 1.7% to $4,380-$4,516 per ounce over three days as US strikes on Iran escalate tensions, with a stronger dollar overpowering safe-haven demand.

Gold dropped 1.7% to $4,380 and Bitcoin fell below $73K after US strikes on Iran. Nearly $1 billion in crypto positions were liquidated amid escalation.

Gold prices dropped over 1% as rising oil prices, fueled by renewed U.S.-Iran hostilities, heightened inflation and interest rate hike concerns. Traders are now pricing in a high…