Gold down 0.3% to $4,066.24 following President Trump's Iran declaration
Business
Gold prices slipped on Thursday, with spot gold down 0.3% to $4,066.24 an ounce.
The drop comes after President Trump declared the U.S.-Iran agreement "over," sparking new US strikes near the Strait of Hormuz.
Oil prices jumped and global markets got shaky, with worries about inflation growing as Middle East tensions rise.
Inflation fears hurt gold demand
With inflation fears up, the Federal Reserve may hike interest rates soon, which usually makes gold less attractive to investors.
The IMF just cut its 2026 global growth outlook to 3%, and Bank of America lowered its gold price forecast for 2026 by 14%.
Basically, rising oil and global uncertainty are making things unpredictable for anyone watching their money.