# Gold Touches $4,300 as Hormuz Tensions Lift Inflation Fears

2026-08-06T17:40:07+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

Spot gold briefly crossed $4,300 an ounce on Thursday, reaching its highest level since June 18, before paring gains. NDTV Profit put the metal’s close at about $4,268, while Reuters reported by way of Mint that spot gold was at $4,244.29 and US gold futures settled 0.1% lower at $4,299.60. Oil rose more than $3 a barrel after Iran’s parliamentary committee reviewed a bill that could bar US, Israeli and other hostile vessels from the Strait of Hormuz. The move revived inflation concerns and expectations of higher US interest rates. Traders are awaiting Friday’s US jobs report, with a Reuters poll forecasting 80,000 new jobs in July and unemployment at 4.2%.

## Coverage

- ndtvprofit.com <https://www.ndtvprofit.com/markets/gold-hits-highest-since-june-on-hormuz-deal-hopes-weak-us-jobs-data-boosts-fed-hike-bets-11876221>
- livemint.com <https://www.livemint.com/market/gold-pares-gains-to-trade-steady-as-oil-rises-on-iran-proposal-to-bar-hostile-vessels-in-hormuz-11786044628603.html>
- livemint.com <https://www.livemint.com/market/us-treasury-yields-rise-as-oil-climbs-before-jobs-report-11786043154633.html>
- livemint.com <https://www.livemint.com/market/dollar-heads-for-best-day-in-two-weeks-as-oil-prices-advance-11786041870410.html>

Tags: Federal Reserve, gold, Strait of Hormuz, US jobs data
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