Investing.com-- Gold prices fell from near record highs in Asian trade on Monday as easing concerns over a bigger conflict in the Middle East dented safe haven demand for the yellow metal.Traders were largely biased towards the dollar in anticipation of the 2024 presidential election, which is now a week away. Flows into the dollar were also spurred by expectations of increased political uncertainty in Japan, after a coalition led by the ruling Liberal Democratic Party lost its parliamentary majority in a weekend election. Spot gold fell 0.7% to $2,729.65 an ounce, while gold futures expiring in December fell 0.5% to $2,741.80 an ounce by 00:11 ET (04:11 GMT). M.East fears ease after Israeli strike Concerns over a bigger conflict in the Middle East eased after Israel did not attack Iran’s oil and nuclear facilities in a strike over the weekend. While Tehran did threaten retaliation for the attack, Iranian leaders also downplayed the impact of the Israeli strike. Concerns over Israel’s attack on Iran- over an early-October strike- had been a key point of uncertainty for markets, especially on fears that any damage to Iran’s oil or nuclear infrastructure would mark a dire escalation in the conflict. This notion had fueled safe haven demand for gold over the past month, with the yellow metal still remaining in sight of recent peaks. Increased uncertainty over the U.S. presidential election is also expected to spur safe haven demand, especially with recent polls showing a tight race between Donald Trump and Kamala Harris. But the dollar appeared to be benefiting more from this uncertainty.