<div id="readability-page-1"><div><p>[SINGAPORE] Gold extended a decline after the US launched fresh strikes against Iran in retaliation for the downing of a military helicopter, jeopardising efforts to end the war that’s roiled global markets.</p><p>Bullion fell as much as 0.8 per cent to near US$4,225 an ounce, after falling 1.6 per cent in the previous session. American forces said that they carried out “self-defense strikes” after US President Donald Trump blamed Teheran for shooting down a US helicopter off the coast of Oman. Iran’s state-run IRIB reported at least six explosions on Qeshm Island in the Strait of Hormuz.</p><p>The latest clashes threaten a fragile ceasefire and risk extending the near-total closure of Hormuz. Severe disruption to energy flows via the strait has driven oil prices higher and raised concerns about global inflation, making central banks more likely to hold interest rates steady or raise them, a headwind for non-yielding precious metals.</p><p>Gold is about a fifth below where it was trading before the Iran war broke out at the end of February. The metal’s recent decline through its 200-day moving average, a widely watched measure of long-term momentum, has triggered additional selling as it’s seen as an important level watched by institutional investors.</p><p>Spot gold fell 0.8 per cent to US$4,226.09 an ounce at 7.26 am in Singapore. Silver slid 0.9 per cent to US$64.76 an ounce. Platinum and palladium also retreated. The Bloomberg Dollar Spot Index, a gauge of the US currency, was little changed. BLOOMBERG</p></div></div>

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<p>Gold prices declined as renewed US-Iran clashes jeopardized a fragile truce, raising inflation concerns and potential interest rate hikes. Bullion fell up to 0.8% near $4,225/oz, driven by selling after breaking key technical levels. Silver, platinum, and palladium also retreated. The conflict risks disrupting energy flows via the Strait of Hormuz, further pressuring non-yielding precious metals.</p>

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Gold extends fall as renewed US-Iran clashes test fragile truce