Gold futures traded near $4,561 per ounce in Asian markets, supported by safe-haven demand amid tensions involving the United States and Iran, even as a firmer dollar capped sharper gains. Renewed violence around the Strait of Hormuz and heightened risks to global trade flows kept investors cautious, while strength in the dollar and rising Treasury yields'on expectations that the Federal Reserve may tighten policy further to curb inflation'limited bullion's upside, creating a mixed backdrop for prices, with markets now closely watching upcoming Fed speeches and key US economic data, particularly the jobs report, for clearer direction, as domestic markets reflected the global trend with MCX June gold futures rising over ₹500 to near ₹1,49,900 per 10 grams, though a sustained move below ₹1,51,000 could signal renewed downside pressure.
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