2026.06.1023:45:25UTC+00Gold Languishes at 7-Month Lows

Gold remained below $4,100 an ounce on Thursday, trading near its lowest level since last November, as the United States carried out a second consecutive day of strikes against Iran. The renewed military action threatened to prolong a conflict that has unsettled global markets and intensified worries about inflation. The strikes came after President Donald Trump accused Tehran of stalling talks on an interim peace agreement, while Iranian officials pledged to resist any threats. The drawn-out confrontation, combined with the near-total closure of the Strait of Hormuz, has disrupted energy shipments from the Persian Gulf, heightening fears of a renewed burst of inflation and prompting speculation about further central bank interest rate hikes. At the same time, US inflation in May accelerated to its fastest pace in more than three years, driven largely by surging energy prices, though the reading was in line with market forecasts. Traders slightly scaled back their expectations for additional Federal Reserve rate increases this year, but a quarter-point hike in December remains fully priced in.