Bullion had climbed more than 7% over the previous four sessions, with investors drawn to safer assets as a Supreme Court ruling scuppered President Donald Trump’s tariff regime and the US faced off with Iran. “Moves within 2% are in the normal range of market volatility right now,” said Song Jiangzhen, a researcher at Guangdong Southern Gold Market Academy. “Longer-term sentiment is still positive, with ongoing uncertainty in Iran and the US risking isolation with its tariff policies.”