Gold prices remained stable at approximately $4,726 per ounce, following a modest two-day gain, as investors assessed the ongoing deadlock in the Middle East conflict and fluctuations in Asian stock markets. President Donald Trump criticized Iran's response to a US peace proposal, stating that the ceasefire in the Strait of Hormuz is on 'massive life support', indicating no quick resolution to the conflict. In the equity markets, South Korean shares experienced a significant drop of over 5% before recovering, following comments from a local policymaker suggesting that the nation should distribute a 'dividend' from taxes on AI profits. This volatility in the stock market reflects broader investor concerns. Gold's price movements indicate it is functioning more as a macro risk proxy rather than a straightforward safe haven, influenced by oil prices, inflation, and central bank policies. Silver prices saw a slight increase of 0.2% to $86.25 per ounce, following a report of a liquidity crisis for a major oil firm in Peru, a significant silver producer. Investors are closely watching the upcoming US inflation report, which is anticipated to show a sharp rise in the consumer price index due to the conflict's impact on manufacturing and agriculture.