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09.07.202600:03:45UTC+00Gold Pressured by Middle East Tensions

Gold traded below $4,100 an ounce on Thursday, extending losses for a second straight session as renewed conflict in the Middle East raised fears of energy supply disruptions and mounting inflationary pressures. The US military confirmed it had conducted strikes on Iran for a second consecutive day, aiming to limit Tehran’s capacity to threaten navigation through the Strait of Hormuz, while Iran vowed a large-scale retaliatory operation against US military bases in the region. President Donald Trump stated that, in his view, the ceasefire has ended, warning of further strikes on Iran and the imposition of a new blockade. At the same time, minutes from the Federal Reserve’s June meeting indicated that only a few policymakers supported another rate increase, although officials voiced growing concern about inflation. Markets continue to price in at least one additional Fed rate hike by the end of 2026.

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