Gold Steady as US-Iran Clashes Dim Truce Prospects in Mideast

AI Summary

Gold prices remain stable as tensions in the Middle East rise, particularly due to reported attacks on US Navy vessels. The situation dampens hopes for a forthcoming deal to secure the Strait of Hormuz and raises inflation worries.

Gold was steady as optimism that a deal to reopen the Strait of Hormuz was imminent faded following reports of attacks on US Navy vessels, reviving inflation concerns.