Gold prices move with shifting expectations around US-Iran developments, with most reports tying price changes to risks for global inflation and interest-rate policy. Several outlets say gold falls to around a two-month low as traders focus on heightened US-Iran tension and the possibility that energy prices and inflation pressures could persist. One report cites spot gold down about 1.1% to roughly $4,406.81 per ounce, the lowest since late March, amid these concerns.

Other coverage says gold steadies or holds gains when US and Iran signal early progress in peace talks. Bloomberg reports that gold stabilizes after both sides flag early progress toward ending the war that has disrupted global markets. In a separate account, Financial Post links a lift in gold to an interim agreement described as reopening the Strait of Hormuz and reducing inflation fears, while another Financial Post piece notes gold’s decline for a third day as traders weigh signals the Federal Reserve could tighten.

Additional reporting highlights that renewed US strikes against Iran push gold down again, as the conflict could prolong inflation risks and cloud the outlook for rates.