Spot gold closed Wednesday June 3 at approximately $4,456.87/oz, down ~1.6% from Tuesday's ~$4,530 - falling on the broad risk-off session despite the Iran escalation, a sign the structural debasement bid (not the war premium) is the dominant driver. Massive C:XAUUSD verified open 4475.09 / close 4456.87 / high 4496.18 / low 4423.31.