On Friday, gold prices increased by 0.6%, reaching $4,721.15 per ounce, but are poised for a 2% loss over the week, marking the first decline in five weeks. The rise comes amid persistent inflation concerns and geopolitical uncertainties, particularly related to the ongoing U.S.-Iran conflict. U.S. gold futures for June delivery settled at $4,740.90, reflecting a 0.4% increase. The market has been influenced by fluctuating oil prices and rising U.S. Treasury yields, which have increased the opportunity cost of holding gold. As the conflict in the Strait of Hormuz remains unresolved, investors are reacting to headlines regarding potential peace talks, with some analysts suggesting that the current situation may lean towards a net positive outcome. However, the overall market remains cautious, with rising oil prices potentially driving inflation higher and increasing the likelihood of higher interest rates.