Gold rose back above $4,100/oz after Wednesday’s sell-off, supported by a softer
dollar and renewed Middle East tensions following another round of US‑Iran
strikes. Rising energy prices could complicate the inflation outlook and bolster
expectations the Fed will keep policy tighter for longer or hike further. June
FOMC minutes showed an internal hawkish shift, pressing precious metals.
Capital Economics economist Thomas Ryan said: "The minutes reiterate that the
door to a September rate hike remains wide open."