Key TakeawaysGold declined more than 1% Friday, touching one-month low levelsTensions between the US and Iran have driven gold down approximately 13% since late FebruaryMajor central banks including the Federal Reserve, ECB, and BoE have indicated potential interest rate increasesIran’s Supreme Leader declared Tehran will maintain control over the Strait of HormuzMarket experts continue to hold positive medium-term outlook for gold despite current downward pressureThe precious metal experienced significant losses Friday, extending a challenging period for gold investors. Spot gold decreased by as much as 1.2% to approximately $4,570 per ounce, maintaining proximity to its lowest point in thirty days.Micro Gold Futures,Jun-2026 (MGC=F)This downturn follows gold’s approximately 1% loss throughout April and an almost 12% decline in March. From the onset of US-Iran hostilities in late February, the yellow metal has surrendered roughly 13% of its market value.The ongoing conflict has propelled oil prices upward, triggering inflation anxieties throughout leading global economies. This energy-sector-driven price surge has redirected market participants’ attention toward the greenback and away from precious metals.The United States dollar has emerged as the primary safe-haven asset since hostilities commenced, displacing gold from its traditional protective role during periods of international instability.Major Central Banks Adopt Hawkish StanceFederal Reserve officials expressed concerns this week regarding inflation pressures stemming from elevated energy costs. The European Central Bank, Bank of England, and Bank of Japan have all suggested possible interest rate increases in the coming months.Elevated interest rates create headwinds for gold. They increase the opportunity cost associated with maintaining positions in non-interest-bearing assets like bullion, enhancing the relative appeal of bonds and currency holdings.Citigroup market strategists indicated in a research report that downward pressure on the precious metal could persist in the immediate future amid ongoing Middle Eastern geopolitical uncertainty.Gold did experience gains Thursday following a substantial Japanese yen rally, believed to result from official intervention measures. A depreciating dollar typically supports gold valuations since the commodity trades in US currency.Tehran Maintains Hormuz PositionUnited States President Donald Trump confirmed he would continue naval blockade operations against Iran and received military briefings on additional strategic options. Diplomatic negotiations between Washington and Tehran have thus far failed to produce breakthrough agreements. CENTCOM Commander Brad Cooper just reportedly briefed Trump in the Situation Room on the potential "final blow" to Iran…Per Fox News, the briefing covered strikes on remaining Iranian military assets, leadership, and infrastructure. Three target categories that,… https://t.co/F32UwfKqfh pic.twitter.com/clvbbU9Pza— Mario Nawfal (@MarioNawfal) May 1, 2026Iran’s Supreme Leader Mojtaba Khamenei released a declaration Thursday affirming Iran’s intention to retain authority over the Strait of Hormuz. He additionally stated Tehran would safeguard its nuclear capabilities and missile programs.Khamenei asserted that Iranian oversight of Hormuz would deliver stability and economic advantages to Persian Gulf nations. His announcement came after reports emerged that Trump had declined an Iranian offer to reopen the critical waterway.Iran has effectively maintained closure of the Strait of Hormuz since conflict eruption in late February. This maritime corridor represents a vital passage for international petroleum transportation.Market activity Friday registered below typical levels, with observance of holidays throughout much of Asia contributing to subdued trading.Silver climbed approximately 1.4% to reach $74.10 per ounce. Platinum and palladium similarly posted modest gains.Notwithstanding immediate headwinds, the majority of market analysts maintain optimistic projections for gold. Recent World Gold Council statistics revealed central banks expanded gold reserves during the first quarter at the strongest rate in more than twelve months.JPMorgan’s head of precious metals research Greg Shearer noted that consumer purchasing activity in China had provided price support, while central bank accumulation patterns remained robust.The post Gold Tumbles to 30-Day Low Amid US-Iran Tensions and Inflation Concerns appeared first on Blockonomi.