Gold edged lower on Friday after setting a new peak above $4,950 an ounce earlier in the day, driven by geopolitical tensions and lingering uncertainty about U.S. policy. Spot gold dipped half a percent to $4,909.51 an ounce after notching a new record high of $4,967.48 earlier. U.S. gold futures were little changed at $4,911.41.
Iran tensions returned to the fore after U.S. President Donald Trump said a U.S. naval "armada" was heading toward the Gulf and that the U.S. is closely watching protests, military signals, and rising tensions in the Middle East.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.