March 27 (Reuters) - Gold prices held steady on Friday, but were on track for a fourth straight weekly decline, as surging energy prices from the Middle East conflict fuelled inflation concerns and bolstered bets on higher-for-longer global interest rates.
<h3>FUNDAMENTALS</h3>
<ul>
<li>Spot gold (XAU=) was little changed at $4,380.39 per ounce as of 0101 GMT. Bullion has fallen more than 2% so far this week.</li>
<li>U.S. gold futures (GCcv1) for April delivery were steady at $4,375.</li>
<li>Gold has fallen about 17% since the U.S.-Israeli war on Iran began on February 28, pressured by a stronger U.S. dollar, which has gained more than 2% over the same period. (USD/)</li>
<li>Brent crude held above $105 a barrel, stoking inflation fears, as the conflict has all but halted shipments through the Strait of Hormuz, a major conduit for roughly one-fifth of global crude and LNG flows. (O/R)</li>
<li>Higher oil prices threaten to push up transport and manufacturing costs, adding to inflationary pressures. Although inflation typically boosts gold’s appeal as a hedge, high interest rates weigh on demand for the non-yielding asset.</li>
<li>Traders have fully priced out any Federal Reserve easing for 2026, compared with expectations for two cuts before the Iran conflict erupted, per the CME Group’s FedWatch Tool. (FEDWATCH)</li>
<li>U.S. President Donald Trump said he would extend a pause on strikes against Iran’s energy facilities into April and that talks with Iran were going “very well,” but an Iranian official dismissed the U.S. proposal to end the war as “one-sided and unfair.”</li>
<li>Separately, U.S. data showed jobless claims rose slightly last week, signalling a still-stable labor market and giving the Fed room to keep rates steady while monitoring inflation risks linked to the war.</li>
<li>Spot silver (XAG=) fell 0.8% to $67.47 per ounce. Spot platinum (XPT=) lost 0.2% to $1,823.40, while palladium (XPD=) gained 1.3% to $1,370.75.</li>
</ul>
<h3>DATA/EVENTS (GMT)</h3>
0700 US Retail Sales MM, YY Feb
0700 UK Retail Sales Ex-Fuel MM Feb
1300 US U Mich Sentiment Final Mar

SGDM

82824

Reuters

Sprott GLD Miners Etf

EFUND GOLD MI-R

iShares Gold Trust

Kinross Gold

VanEck Gold Miners ETF

Newmont

SD-GOLD

Sprott JR Gold Miners ETF

SPDR Gold Minishares

SPDR Gold Shares

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

Agnico Eagle Mines

Microsectors Gold Miners 3x Leveraged ETN

Direxion Daily Gold Miners Bull 2X

EFUND GOLD MI ETF

Roundhill Gold Miners Weeklypay ETF

Invesco Db Precious Metals ETF

Sprott Active Gold & Silver Miners ETF

Pro Ultr GLD

Us Gbl GLD & Met

Abrdn Precious Metals Basket ETF Trust

VanEck Junior Gold Miners ETF

iShares MSCI Global Gold Miners

EFUND GOLD MI-U

GLOBAL X Gold Explorers

Gold.com

Abrdn Gold ETF Trust

ZHONGJIN GOLD

ChinaAMC Gold ETF

YieldMax Gold Miners Opt Inc Strgy ETF

Direxion Daily Jr Gold Miners Bull 2X

Zijin Mining

PRECIOUS-Gold set for fourth weekly fall as Mideast war boosts rate-hike bets