ECB WILL TAKE NECESSARY ACTIONS TO CONTROL RISING ENERGY PRICES, SAYS NAGEL

Gold prices traded above $4,700 per troy ounce, supported by central-bank buying and investor demand for safe-haven assets amid ongoing Middle East tensions. Analysts at Saxo Bank said gold’s resilience despite strong equity markets reflects sustained central-bank demand as well as concerns over inflation, slowing growth, and rising fiscal debt. New York futures rose 0.1% to $4,715.20 and were on track for a weekly gain of 1.5%. Markets also monitored the U.S.-Iran conflict, where both sides exchanged fire, though President Donald Trump said the cease-fire remains in place while mediation efforts continue toward a possible framework for renewed negotiations.

FED'S MIRAN: FED POLICY IS HOLDING BACK JOB MARKET