Gold dips 0.25 percent to $4,674 as 10‑week Middle East conflict drives oil, dollar higher

Gold prices declined due to the rise in oil prices driven by the ongoing U.S.–Iran conflict and the lack of progress in peace negotiations, while the strengthening dollar added pressure on demand. U.S. President Trump rejected Iran’s response to the U.S. proposal, raising concerns about the potential for a prolonged conflict and its impact on global energy supplies. Investors are awaiting the upcoming CPI data for clearer signals on the Fed’s next policy moves.