Gold dropped below $4,700 an ounce Monday, with spot prices down 0.6% at $4,682.13 and June futures settling at $4,693.70. Uncertainty over the U.S.-Israeli war on Iran and the Fed’s rate outlook weighed on the market. Analysts raised their 2026 gold forecast to a record $4,916, but technical signals pointed to fading momentum. Silver, platinum, and palladium also declined.