Gold prices have experienced a 3.4% decline over the past three days, settling around $4,550 per ounce as the Federal Reserve opted to keep US interest rates steady while expressing concerns over inflation. This decision came with notable dissent from four officials, marking the first such division since 1992. The ongoing conflict in Iran has further clouded the economic outlook, contributing to rising energy prices and impacting gold's appeal as a safe-haven asset. Analysts, including Nicky Shiels from MKS PAMP SA, suggest that the Fed's hawkish tone and the potential for future rate hikes could be underappreciated by the market, posing challenges for gold. As the situation in the Middle East remains volatile, with US-Iran peace talks stalled and energy shipments disrupted, gold is poised for a second consecutive monthly decline, having already fallen about 14% since the conflict began in late February. Meanwhile, other precious metals like silver, platinum, and palladium saw slight gains amidst the turmoil.