Gold Comes Under Pressure as Iran Tensions, Strong Dollar Cloud Outlook

Gold started the week on a losing streak, shedding about 2% to trade at about $4,521 as tensions in the Gulf escalated and caused oil prices to climb. At the same time, the reserve currency appeal of the U.S. dollar increased and the USD index strengthened. This confluence of factors is weighing on gold and exerting drag on its potential to record price increases.

For entities like Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) that take a longer-term view on market drivers, the current price fluctuations are just noise because the fundamental picture remains&

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