Gold fell during the Asian morning session as the U.S. dollar strengthened following the breakdown of U.S.-Iran talks over the weekend. A stronger dollar typically makes the dollar-denominated precious metal more expensive for investors holding other currencies. Spot gold dropped 1.9% to $4,656.29 per ounce. Additionally, the failure of the talks triggered a surge in crude oil prices this morning, which could reignite inflationary pressures and concerns that central banks may raise interest rates—a move that could reduce the appeal of non-yielding precious metals.