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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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.