Gold prices fell by as much as 1.2% in early Asian trading on Monday, driven down by a global stock market selloff that overshadowed concerns about rising tensions in the Middle East. Spot gold dropped towards $2,425 an ounce as Asian shares tumbled, reflecting fears of a deepening U.S. economic slowdown and potential delays in Federal Reserve interest rate cuts. Despite the drop, gold remains one of the top-performing commodities this year, bolstered by central bank purchases and expectations of rate cuts. However, the current market volatility has led investors to liquidate gold positions to cover losses in other assets.