Spot gold traded down to approximately $4,090 by late Wednesday June 10 (readings through the day ranged $4,079-$4,146) - down ~5.5% from June 5's ~$4,327 and ~10% below the late-May ~$4,530 band. Gold fell INTO the sharpest war escalation since February: the 4.2% CPI, the ~4.54% 10Y, and risk-off margin liquidation dominated any safe-haven bid - the second consecutive window in which the haven test failed.