Gold spot price rose 0.4% to $4,539.75/oz, recovering from a 2% drop to one‑month low amid Hormuz tensions.
U.S. President Donald Trump’s “Project Freedom” aims to escort vessels and reopen Strait of Hormuz shipping lanes, easing supply concerns.
Escalating conflict saw U.S. forces destroy six Iranian attack boats and Iran strike UAE’s Fujairah oil facility, raising geopolitical risk.
Despite safe‑haven demand, higher oil prices, inflation worries and rising bond yields limited gold’s rally, with metal down over 10% since February.