Gold, silver slide up to 2% as fresh US strikes on Iran fuel inflation fears, hurt peace hopes

May 28, 2026

Gold prices declined on Thursday as U.S. strikes on Iran boosted oil and fueled inflation concerns, impacting interest rate outlooks. Spot gold fell 0.8% to $4,419.60 per ounce. Investors await U.S. PCE data for Federal Reserve policy signals, with officials indicating rates may remain unchanged for now.

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