August Gold futures staged a modest rebound during Friday's session but ultimately concluded with a weekly decline of 2.37%, marking the eighth week of lower prices in the past 10 weeks. Ongoing U.S.-Iran conflict continues to create a complex environment for the precious metal, balancing the headwind of energy-driven inflation and elevated interest rates against persistent safe-haven demand. With CME FedWatch data indicating a 90% probability that the Federal Reserve will hold rates steady at its upcoming meeting, recent softer CPI and PPI readings have diminished the likelihood of further rate hikes without guaranteeing imminent cuts. Consequently, geopolitical developments remain a primary catalyst for Gold futures in the near term as the market navigates these competing pressures.