<\/p>\n
Gold declined as US strikes in the Strait of Hormuz tempered optimism over the progress of talks to unlock the critical waterway, keeping inflation risks elevated.<\/p>\n
Bullion fell as much as 0.7% to around $4 540 an ounce, after rising the day before, on concerns the strikes may derail peace talks. US forces hit missile launch sites in Iran and boats trying to place mines, US Central Command said in a statement. The strikes were defensive and intended \u201cto protect our troops from threats posed by Iranian forces,\u201d spokesman Captain Tim Hawkins said.<\/p>\n
Brent crude advanced more than 2% as the strikes raised the risk of prolonged supply disruptions due to the effective closure of the waterway.<\/p>\n
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Separately, Israel said it will intensify strikes against Hezbollah while the US-Iran talks are ongoing. Iran has insisted the cessation of hostilities in Lebanon be part of any peace agreement.<\/p>\n
The developments come after US President Donald Trump on Monday said talks with Iran over an interim deal to extend their ceasefire and ease restrictions on passage through Hormuz were \u201cproceeding nicely.\u201d<\/p>\n
Bullion has slumped around 14% since the conflict erupted in late February. Traders ramped up rate-hike bets as the war sent energy prices soaring and fanned inflation concerns. Higher borrowing costs weigh on the yellow metal, which doesn\u2019t pay interest.<\/p>\n
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A sustained rebound in gold \u201crequires breaking away from the correlation with risk assets,\u201d said John Reade, chief strategist at the producer-funded World Gold Council. \u201cGold has a better chance of recovering toward the end of the year\u201d even if the conflict ends now, as it takes time for energy balance to be restored, he added.<\/p>\n
Spot gold was down 0.7% at $4 540.14 an ounce at 9:33 a.m. in Singapore. Silver was 1.6% lower at $76.82. Platinum and palladium also declined. The Bloomberg Dollar Spot Index, a gauge of the US currency, was marginally higher after retreating 0.3% the day before.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Gold #slips #strikes #raise #concerns #Iran #talks #inflation<\/p>\n","protected":false},"excerpt":{"rendered":"
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