June 11 (Reuters) – Gold hit a more than six-month low on Thursday, as fresh U.S. strikes on Iran drove oil prices \u200chigher, deepening concerns around inflation and higher-for-longer interest rates.<\/p>\n
FUNDAMENTALS<\/p>\n
* Spot \u200cgold was down 0.2% at $4,063.87 per ounce, as of 0043 GMT, after hitting its lowest \u200blevel since November 21 earlier in the day.<\/p>\n
* U.S. gold futures for August delivery were down 1.1% at $4,086.50.<\/p>\n
* The United States began a fresh round of strikes against multiple targets overnight in Iran, the U.S. military said \u200con Wednesday, hours after \u2060President Donald Trump vowed new attacks if no peace deal is secured.<\/p>\n
* Oil prices climbed more than $2 on Thursday, \u2060as Iran declared the closure of the Strait of Hormuz following the U.S. strikes. [O\/R]<\/p>\n
* Elevated crude oil prices can accelerate inflation, and while gold is \u200bseen as \u200ba hedge against inflation, higher interest \u200brates tend to weigh on \u200cthe non-yielding metal.<\/p>\n
* Data showed that U.S. consumer inflation increased at its fastest pace in three years in May, boosted by surging prices for energy products amid the Middle East conflict, and giving more ammunition for the Federal Reserve to keep interest rates unchanged into 2027.<\/p>\n
* Markets are \u200cawaiting the May U.S. Producer Price Index \u200bdata, due later in the day, to \u200bfurther assess the Fed’s \u200bmonetary policy stance.<\/p>\n
* Ivory Coast’s gold output is expected to \u200creach 62 metric tons in \u200b2026, up from 59.33 \u200btons in 2025, as established mines expand operations, the West African country’s director general of mines told Reuters.<\/p>\n
* Spot silver fell 0.9% \u200bto $63.15 per ounce, \u200cplatinum lost 0.6% to $1,655.06, while palladium gained 1% to $1,225.25.<\/p>\n
DATA\/EVENTS (GMT)<\/p>\n
1215 EU ECB Refinancing, deposit \u200bRate Jun<\/p>\n
1230 US Initial Jobless Clm Jun 6, w\/e<\/p>\n
1230 US PPI Machine Manuf’ing May<\/p>\n
(Reporting by Pablo Sinha \u200bin Bengaluru; Editing by Subhranshu Sahu)<\/p>\n","protected":false},"excerpt":{"rendered":"June 11 (Reuters) – Gold hit a more than six-month low on Thursday, as fresh U.S. strikes on…\n","protected":false},"author":2,"featured_media":486946,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[54,42,4486,87,43,6807,16540,40,38,41,39],"class_list":["post-486945","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-donald-trump","tag-headlines","tag-interest-rates","tag-iran","tag-news","tag-oil-prices","tag-spot-gold","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/486945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=486945"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/486945\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/486946"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=486945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=486945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=486945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}