Gold fell as much as 1% intraday after renewed Israel‑Iran strikes undermined hopes for a Middle East agreement, lifting inflation concerns and boosting rate‑hike expectations. Saxo Bank analysts said gold futures closed below the 200‑day moving average for the first time since Oct 2023 after last Friday’s nonfarm payrolls and a broader deterioration in risk sentiment that hit equities. They added a resilient US economy and rising inflation expectations now pose a tougher backdrop for gold, outw

Gold fell as much as 1% intraday after renewed Israel‑Iran strikes undermined hopes for a Middle East agreement, lifting inflation concerns and boosting rate‑hike expectations. Saxo Bank analysts said gold futures closed below the 200‑day moving average for the first time since Oct 2023 after last Friday’s nonfarm payrolls and a broader deterioration in risk sentiment that hit equities. They added a resilient US economy and rising inflation expectations now pose a tougher backdrop for gold, outweighing longer‑term supports such as central‑bank purchases, fiscal worries and reserve diversification.