Spot gold rose as low as $4,320.30 an ounce on Monday—less than a dollar higher than at the end of last year, almost erasing all of this year's gains. Meanwhile, the war in the Middle East has lasted four weeks, with the US and Iran exchanging threats of new attacks. Rising oil prices since the conflict began have increased inflation risks and reduced the likelihood of the Federal Reserve and other central banks cutting interest rates in the near term. This is a headwind for gold, which has fallen for eight consecutive trading days and just recorded its biggest weekly drop since 1983. Capital.com analyst Kyle Rhoda said that gold is poised for a short-term rebound due to technical reasons, largely depending on whether Trump delivers on his threats to strike Iranian power plants. (Jinshi)