Gold Languishes at 7-Month Lows

2026-06-10 23:45 By Jam Kaimo Samonte 1 min. read

Gold held below $4,100 an ounce on Thursday, hovering at its lowest levels since November last year as the US launched strikes against Iran for the second day, threatening to prolong the conflict that has rattled global markets and fueled inflation concerns.

The attacks followed President Donald Trump's accusation that Iran was delaying negotiations over an interim peace agreement, while Tehran vowed to resist any threats.

The protracted conflict and the ongoing near-total closure of the Strait of Hormuz disrupted energy flows from the Persian Gulf, raising concerns about resurgent inflation and potential central bank interest rate hikes.

Meanwhile, US inflation accelerated in May to its fastest pace in more than three years, driven by surging energy costs, though the figure matched market expectations.

Traders modestly pared expectations for Federal Reserve rate hikes this year, although a quarter-point increase in December remains fully priced.



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