Gold stayed flat in Asian trade as new U.S. strikes on Iran unfolded and the Fed released hawkish minutes. American forces targeted Iranian positions after President Trump ended an eight‑week ceasefire, sparking renewed tension in the Middle East.

The Fed’s June meeting minutes signaled a hawkish stance, but the muted June U.S. jobs report tils a July rate hike less likely. Nonyielding assets like gold react to a higher rate environment, keeping the spot gold price steady at $4,074.24 per troy ounce.

For investors, the scenario tightens the cost of holding gold, as opportunity cost rises when rates climb. Commodity traders may cut positions, while gold mining firms face potential demand dampening. The flat price suggests risk appetite remains unchanged amid geopolitical and monetary uncertainty.

Analysts warn that any further Fed tightening could sharpen pressure on gold, making hedging and yield‑seeking strategies more attractive for portfolio managers.