Gold Pares Gains as Traders Weigh Iran War, Fed Rate Outlook

Gold pared some of its early gains as traders weighed the prospect of the Federal Reserve raising interest rates to tame inflation spurred by the conflict in the Middle East.

Bullion slipped as much as 0.3% before trading about 1% higher. Prices earlier climbed to a one-month high on haven demand. President Donald Trump said the US would keep up its military offensive against Iran for as long as it takes, outlining for the first time a set of four objectives he hopes to accomplish toward reducing the threat he said is posed by Tehran. Silver and palladium fell.