Gold on track for biggest weekly loss in six as Iran war fans inflation worries

Geopolitical risks in the Middle East are still present, with ​inflation and yield concerns being the dominant forces holding gold back.

Oil prices have ‌jumped ⁠about 12% so far this week due to limited oil flows out of the Strait of Hormuz, with Tehran asking the Houthi movement to stand ready to shut the Red Sea export route.

Non-yielding ​gold typically struggles in ⁠a high-interest-rate environment as investors gravitate toward assets that offer better returns.