Trump's Comments Ease Inflation Jitters, Gold Prices Hold Steady

Gold prices held steady as US President Donald Trump's comments on the Middle East conflict eased concerns about inflation. The yellow metal had been trading around $4,385 an ounce after a 1% rebound the previous day.

Oil prices slowed their climb after Trump said that the latest attacks on Iran would likely be short-lived, tempering fears of prolonged military action and subsequent inflationary pressures.

The US dollar edged lower against the yen, which had traders anticipating further support for the Japanese currency. A weaker greenback can increase gold's appeal to investors holding foreign currencies.