<div id="readability-page-1"><div>Gold extended a decline after the US launched fresh strikes against Iran in retaliation for the downing of a military helicopter, jeopardizing efforts to end the war that’s roiled global markets.Bullion fell as much as 1.2% to near $4,210 an ounce, after sliding 1.6% in the previous session. American forces said they carried out “self-defense strikes” after President Donald Trump blamed Tehran 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.The latest clashes threaten a fragile ceasefire and risk extending the near-total closure of Hormuz, a vital transit point for energy shipments from the Middle East to global markets. Iranian Foreign Minister Abbas Araghchi said in a post on X that the country “will leave no attack or threat unanswered.”Oil prices rebounded on Wednesday, further fueling concerns about global inflation and in turn making central banks more likely to hold interest rates steady or raise them — a headwind for non-yielding precious metals. The Brent crude benchmark slid 3% on Tuesday on signs that slowing demand is helping to offset some of the lost supply.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.“We expect price action to become more vulnerable in the near term” as the prospect of a rate hike increases, Suki Cooper, global head of commodities research at Standard Chartered Plc, said in a note. More holdings in gold-backed exchange-traded products will be loss-making if bullion slumps further, which will “expose gold to further downside risk,” she said.The next technical support level for gold is around $4,100 an ounce, Cooper said. While markets such as India are soft, China remains a bright spot for demand, with the local premium steady at below $10 an ounce, she added.Spot gold fell 0.9% to $4,223.82 an ounce at 8:15 a.m. in Singapore. Silver slid 0.6% to $64.97 an ounce. Platinum and palladium also retreated. The Bloomberg Dollar Spot Index, a gauge of the US currency, was little changed.</div></div>

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Gold prices declined as renewed US-Iran military clashes jeopardized a fragile ceasefire, raising geopolitical risks. Bullion fell up to 1.2% near $4,210/oz due to fears of prolonged Hormuz Strait closure and potential central bank rate hikes stemming from oil price rebounds. Technical breakdowns triggered institutional selling, with support seen at $4,100. While demand in India softened, China remained strong. Silver and platinum also retreated amid broader market uncertainty.

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