Spot gold rose 0.4% to $4,539.75/oz, trading at $4,548.10 futures, after falling over 2% previous session.
Escalating US‑Iran clashes in the Strait of Hormuz, including destruction of six Iranian boats and UAE oil facility fire, spurred market anxiety.
Despite gold’s safe‑haven appeal, higher oil prices, inflation worries and rising bond yields limited gains, with gold down >10% since late‑February conflict.
Silver rose 0.4% to $72.99/oz and platinum gained 1.4% to $1,973.75/oz.