Gold fell below $5,000 amid thin trading due to the holidays.

Gold fell during Tuesday's trading session, falling below $5,000 an ounce, affected by lower trading volumes due to global market holidays. Geopolitical tensions and a decline in US Treasury yields limited the pace of the decline, with prices reaching $4,935 after hitting a near two-week low of $4,859, a daily drop of approximately 1.10 percent. The pressure stemmed from reduced liquidity due to the closure of China and several Asian markets for the Lunar New Year holiday, in addition to the Presidents' Day holiday in the United States. Despite this, gold did not experience a strong sell-off because the dollar index's recovery stalled near 97.12, and the yield on 10-year US Treasury bonds fell to 4.02 percent, its lowest level since late November. Tensions between the United States and Iran continued to support demand for gold as a safe haven, especially with the continuation of nuclear talks in Geneva and military exercises taking place in the Strait of Hormuz.