Summary：**Gold drops after US airstrikes on Iran ignite inflation fears** *The geopolitical tensions and in

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**Gold drops after US airstrikes on Iran ignite inflation fears**
*The geopolitical tensions and inflation fears highlight vulnerabilities in energy markets and challenge traditional safe‑haven asset strategies.*

### Introduction
Gold prices slipped on Thursday as news of U.S. airstrikes targeting Iranian military sites spread across global markets. Investors reacted swiftly, shifting capital away from the traditional safe‑haven metal amid rising concerns that the conflict could spur higher energy costs and reignite inflationary pressures. The move underscores how geopolitical shocks can quickly alter the calculus for assets traditionally viewed as hedges against uncertainty.

### Key Developments
- **Military action:** The United States launched precision strikes on several Iranian facilities linked to drone and missile programs, prompting Tehran to warn of retaliation.
- **Market reaction:** Spot gold fell 1.2% to $1,925 per ounce, while silver and platinum also retreated.
- **Energy impact:** Brent crude jumped 3.4% to $89.70 a barrel, reflecting fears of supply disruptions in the Strait of Hormuz.
- **Inflation signals:** U.S. consumer‑price expectations for the next 12 months rose to 3.8% in the latest survey, up from 3.5% a week earlier.

### Industry Analysis
Analysts note that the typical inverse relationship between gold and real yields is being tested. Higher oil prices tend to push up inflation expectations, which can lead central banks to maintain or tighten monetary policy—conditions that usually weigh on non‑yielding assets like gold. At the same time, the spike in energy costs raises the prospect of stagflation, a scenario where safe‑haven demand could eventually rebound if growth fears outweigh inflation concerns.