U.S.-Iran War Escalates as Strait of Hormuz Crisis Threatens Global Oil Supply 
U.S. Presses South Korea on Strait of Hormuz Naval Support Amid Rising Energy Tensions 
Yen Slides Near Two-Year Low as Fed Holds Rates Amid Middle East Tensions 
U.S. Futures Dip as Fed Hawkishness and Middle East Tensions Rattle Markets 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
Japan's Major Companies Lead Strong Wage Growth for Fourth Consecutive Year 
Global Central Banks Hold Rates Amid Iran War-Driven Energy Price Surge 
Gold Prices Hold Above $5,000 as Central Bank Meetings and Iran War Stay in Focus 
RBA Raises Cash Rate to 4.10% in Closest Vote Since Transparent Voting Began 
Asian Markets Tumble as BOJ Holds Rates, Oil Surges Past $110 
U.S.-Iran War Pushes Brent Crude Back Above $100 as Strait of Hormuz Tensions Persist 
Asian Currencies Rebound as Dollar Weakens, BOJ Holds Rates 
Oil Prices Surge Past $100 as U.S.-Israel War on Iran Threatens Global Energy Supply 
Dollar Steadies as Oil Pullback Lifts Risk Sentiment Before Central Bank Decisions 
Bank of Japan Holds Rates Steady Amid Inflation Concerns and Yen Weakness 
U.S. Stock Futures Steady as Markets Await Fed Rate Decision Amid Middle East Tensions 
Iran-Israel War Escalates: Cluster Missiles, Nuclear Fears, and Strait of Hormuz Crisis 
Gold prices edged higher during Asian trading hours on Thursday, clawing back some recent losses after a sharp selloff pushed the precious metal to its lowest point in over a month. Despite the modest recovery, prices remain well beneath the closely watched $5,000 per ounce threshold as investors navigate a complex mix of interest rate signals and geopolitical tensions stemming from the ongoing U.S.-Israel war on Iran.
Spot gold climbed 0.6% to $4,847.85 per ounce, while gold futures dipped nearly 1% to $4,849.50 per ounce during early Thursday trading. The partial rebound follows a rough Wednesday session, during which bullion broke below a $5,000–$5,200 trading range that had held steady for nearly a month.
Wednesday's decline was driven by two key catalysts. First, U.S. producer price index data for February came in stronger than expected, pointing to persistent inflationary pressures in the economy. Shortly after, the Federal Reserve opted to hold interest rates steady while expressing uncertainty about how the Iran conflict could further fuel inflation. Together, these developments pushed back market expectations for rate cuts, with CME FedWatch data indicating traders now anticipate no reductions until at least September.
Higher interest rates typically weigh on gold by increasing the opportunity cost of holding a non-yielding asset. This dynamic has largely neutralized the safe-haven demand that would ordinarily benefit gold during a major geopolitical conflict like the Iran war.
Other precious metals also saw minor gains Thursday but remain under pressure. Spot platinum added 0.2% to reach $2,029.96 per ounce, while spot silver advanced 0.9% to $76.02 per ounce.
Traders will continue monitoring Federal Reserve commentary and geopolitical developments for clearer direction on where gold prices may be headed in the near term.
