Gold prices remain in a narrow trading range as investors weigh a reported flare-up in the Strait of Hormuz against expectations for the Federal Reserve’s interest-rate path. Bloomberg and the Financial Post both report that the market focus is on how developments involving Iran could affect broader economic conditions, including inflation and growth, and therefore the timing or trajectory of rate decisions. The reports cite a development described as an Iranian attack or incident near the Strait of Hormuz, which raises concerns about potential disruptions to energy supplies and risk sentiment. At the same time, traders appear to limit aggressive moves in gold while assessing the likelihood and duration of any economic impact. Both outlets characterize gold’s price action as steady and range-bound, suggesting investors are waiting for clearer signals about whether the situation escalates materially and how it might translate into changes to the Fed’s policy outlook. Overall, the coverage points to gold trading largely in response to shifting macro expectations rather than a decisive new catalyst for bullion itself.