Gold Eases as US Plan to Blockade Hormuz Raises Inflation Risks

Gold edged down amid mounting inflation concerns after US President Donald Trump’s order to blockade the Strait of Hormuz deepened the global energy-supply shock.

Bullion fell as much as 2.2% to trade below $4,650 an ounce before retracing much of the loss. Trump said Iran reached out about peace talks as US forces began a naval blockade of the strait. Iran has blamed the weekend collapse of ceasefire negotiations on the US and Tehran has not confirmed further discussions.