10.07.202600:04:37UTC+00Gold Poised to End Week Little Changed

Gold held above $4,100 an ounce on Friday and was set to end a turbulent week largely flat, as investors weighed ongoing tensions in the Middle East and their implications for inflation and monetary policy. Reports suggested the US and Iran intend to continue peace talks despite a recent escalation in hostilities that has disrupted energy shipments through the Strait of Hormuz and reignited inflation concerns. Over two days, US forces launched strikes on targets in Iran in response to recent attacks on vessels in the area, triggering retaliatory strikes by Tehran on US bases across the region. Markets still anticipate at least one interest rate increase by the Federal Reserve this year, though the policy outlook remains highly uncertain. At the same time, New York Fed President John Williams said that, among the various forces influencing US inflation, he is paying particular attention to demand driven by artificial intelligence.