Gold pulled back Wednesday after rising more than 2% in the prior session as
markets absorbed softer-than-expected US inflation data while still pricing the
inflationary risk from a potential Iran conflict lifting energy prices. A
Mitsubishi UFJ analyst said falling gasoline prices are easing inflationary
pressure and trimming bets on further Fed tightening, supporting the metal’s
rebound, but warned US‑Iran tensions and rising oil could still lift
inflation risks. Fed chair Kevin Warsh reiterated that further policy tightening
remains an option if price pressures persist.
