Gold spot price rose 0.7% to $4,555.99/oz, recovering from a one‑month low after US‑Iran tensions eased.
Gold futures also gained 0.7% to $4,566.11/oz; silver and platinum rose 0.1% and 1.2% respectively.
ING analysts say higher energy‑driven inflation and rising Treasury yields now pressure gold more than geopolitical risk.
The US announced “Project Freedom” to secure Strait of Hormuz shipping; an Iranian missile attack sparked a fire at a UAE oil hub.