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Gold holds steady amid US-Iran tensions
Gold prices slightly declined as tensions in the Middle East continued, raising concerns about oil supplies and their impact on inflation. Spot gold fell by 0.02% to reach $4,010.42 per ounce, while futures remained steady at $4,019.40. The attacks between the United States and Iran, including targeted strikes on oil facilities and ships in the Strait of Hormuz, led to rising oil prices and increased worries about ongoing inflation, which could keep interest rates elevated and deter investment in gold. Despite the escalation, diplomatic avenues remain open, with American and Iranian statements emphasizing the possibility of resuming talks.
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