Gold prices traded lower on Wednesday as renewed Middle East tensions continued to push oil prices higher, clouding the outlook for inflation and interest rates.
Spot gold fell 0.9 percent to $4,448.70 an ounce, while U.S. gold futures for August delivery were down 1 percent at $4,476.40.
Inflation concerns returned to the fore as Brent crude prices jumped nearly 3 percent toward $99 a barrel following reports that the U.S. military had thwarted Iranian missile attacks targeting Bahrain, Kuwait, and other locations in the region.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.