Gold prices dropped on Monday due to technical selling, but concerns of a Middle East escalation held bullion over $1,900 per ounce.

Spot gold was down 0.9% to $1,915.10 per ounce, while US gold futures fell 0.7% to $1,928.60.

Gold is holding up well due to uncertainty about the Middle East and the need for more bond and dollar movements to support current levels.

Gold met investors’ expectations during these times, and investors are waiting for Federal Reserve Chair Jerome Powell’s speech.