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 renewed US‑Iran tensions and rising oil could still lift inflation risks. Fed chair Kevin Warsh

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 renewed 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.