Gold futures test 50-day moving average amid Iran tensions.

June Gold futures attempted a technical breakout, testing the 50-day moving average for the fourth time in six sessions and reaching an intraday high of 4,826. The upward movement coincides with stabilized U.S. Treasury yields, which have temporarily removed headwinds for the precious metal. Underlying support is being driven by renewed inflation concerns highlighted in the March FOMC minutes, largely attributed to supply-side shocks stemming from the Iran conflict. Additionally, safe-haven demand remains robust as the Strait of Hormuz stays only partially reopened; current maritime traffic is forced to navigate specific routes controlled by the Iranian military due to sea mines. This lingering logistical bottleneck and broader geopolitical uncertainty keep traders cautious ahead of scheduled weekend talks between the U.S., Israel, and Iran.