Gold spot rose 0.4% to $4,539.75/oz, US June futures up 0.3% to $4,548.10, after hitting one‑month lows.
Escalating Strait of Hormuz conflict saw US destroy six Iranian boats and Iran strike UAE’s Fujairah oil facility, heightening geopolitical risk.
Despite gold’s safe‑haven appeal, rising oil prices and higher bond yields limited gains, with gold down over 10% since late‑February conflict onset.