Gold fell as much as 1.2% in early Asian trading, dragged lower by weakness in global stocks, which offset concerns over heightened tensions in the Middle East.
Spot bullion — which rallied close to a record last week — dropped toward $2 425 an ounce as Asian shares tumbled at the week’s open. Growing concern about a deepening US economic slowdown weighed on markets, with traders worried the Federal Reserve may be behind the curve on interest-rate cuts.
