Gold fell below $4,000/oz and is on track for a weekly drop of more than 3%. Escalating US‑Iran hostilities have lifted energy prices, which could keep inflation elevated and prompt further Fed tightening. Mitsubishi UFJ Financial Group analyst Soojin Kim said recent price action shows markets are placing greater weight on the risk that US rates will remain higher for longer than on gold’s traditional safe‑haven demand, leaving gold vulnerable unless geopolitical risk spills over into broad fina

Gold fell below $4,000/oz and is on track for a weekly drop of more than 3%. Escalating US‑Iran hostilities have lifted energy prices, which could keep inflation elevated and prompt further Fed tightening. Mitsubishi UFJ Financial Group analyst Soojin Kim said recent price action shows markets are placing greater weight on the risk that US rates will remain higher for longer than on gold’s traditional safe‑haven demand, leaving gold vulnerable unless geopolitical risk spills over into broad financial‑market stress.