Gold prices rebounded on Thursday after falling to a six-month low earlier amid heightened U.S.-Iran tensions and Fed rate hike concerns.
Spot gold was up 0.6 percent at $4,095.45 an ounce after reaching a six-month low at $4,024 an ounce earlier. However, U.S. gold futures were down half a percent at $4,114.42.
The dollar wobbled as fresh U.S.-Iran military clashes cast doubt on the prospects for a peace deal and data showed consumer inflation soared to its highest level in three years in May, matching expectations.
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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.