Gold spot price slipped 0.2% to $4,070.81 per ounce on Thursday, while the nearest gold futures contract fell 0.1% to $4,079.47 per ounce as of 22:46 ET (02:46 GMT). The decline followed three consecutive days of losses triggered by a flare‑up in U.S.–Iran military activity that pushed oil prices higher and revived concerns about energy‑driven inflation. A stronger U.S. dollar, hovering near the 13‑month high reached in June, further weighed on the metal, with the dollar index remaining elevated. Fed minutes from the June meeting, released on Wednesday, showed policymakers divided on the need for additional rate hikes, heightening anxiety over persistently sticky inflation that remains well above the Federal Reserve’s 2 % target. Fed Chair Kevin Warsh reiterated the central bank’s commitment to achieving the 2 % goal in a recent address. In related precious‑metal markets, spot silver dropped 0.5% to $58.006 per ounce, whereas spot platinum rose 0.5% to $1,594.0 per ounce. The article notes that the U.S. launched a series of attacks on Iran after President Donald Trump declared the cease‑fire over, with the latest hostilities stemming from Iranian attacks on vessels in the Strait of Hormuz.