Gold and silver fall as Iran tensions push oil higher

Gold and silver fell after new U.S. strikes on targets in Iran lifted oil prices and renewed concerns about inflation pressures. Spot gold dropped 0.7% to $4,537.54 an ounce, while U.S. gold futures rose 0.3% to $4,538.50. Brent crude climbed more than 2% in Asian trading, strengthening expectations that inflation could rise again. Analysts said higher oil prices could push central banks, especially the U.S. Federal Reserve, to keep interest rates elevated for longer. Silver fell 1.8% to $76.66, platinum declined 0.9% to $1,950.70 and palladium lost 1.1% to $1,382.42.