Gold Dips 0.4% on Hot CPI

Spot gold fell 0.4% to $4,715.61/oz and futures slipped 0.1% to $4,722.22/oz as the dollar rose.
April CPI rose 0.6% month‑on‑month and 3.8% year‑on‑year, with core CPI up 0.4% M/M and 2.8% Y/Y.
Energy prices drove inflation, with the energy index up 3.8% M/M and 17.9% Y/Y; gasoline rose 5.4% M/M and 28.4% Y/Y.
The U.S.–Iran deadlock heightened safe‑haven demand for the dollar, supporting its strength amid geopolitical tension.