Gold prices have dropped significantly in the pre-market session, with the GLD ETF down -1.58%. The primary driver appears to be a stronger U.S. dollar, which is seeing increased demand as a safe-haven asset due to escalating tensions between the U.S. and Iran. [6, 11] This move is also attributed to profit-taking after recent price gains. [6] The market is also digesting the latest Employment Cost Index data, which could influence future Federal Reserve interest rate decisions. [5, 14]