Thursday Asian session: spot gold slipped, trading near the week low hit in the prior session after renewed US‑Iran clashes lifted oil and rekindled concerns about higher, more persistent inflation and rates. The US military said it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, prompting Iranian attacks on targets in Kuwait and Bahrain. OANDA senior market analyst Kelvin Wong said: "The catalyst behind gold's decline is the market's re‑pricing for a second Fed rat

Thursday Asian session: spot gold slipped, trading near the week low hit in the prior session after renewed US‑Iran clashes lifted oil and rekindled concerns about higher, more persistent inflation and rates. The US military said it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, prompting Iranian attacks on targets in Kuwait and Bahrain. OANDA senior market analyst Kelvin Wong said: "The catalyst behind gold's decline is the market's re‑pricing for a second Fed rate hike in Q1 next year. After yesterday's clashes, the temporary ceasefire between the US and Iran is fragile and the situation could again become highly uncertain."