Gold Slips as Houthi Attack Raises Broader War Fears

Spot gold declined 0.2% to $4,237.05 an ounce, silver was down 0.9%, platinum slipped and palladium advanced. The moves came as Houthi militants said they carried out a "large-scale" attack against forces from Yemen's Saudi-backed government, raising concerns that the war could broaden further.

Despite the fresh geopolitical jolt, gold has fallen roughly a fifth since the U.S.-Iran war erupted in late February. The metal continues to wrestle with conflicting forces: safe-haven demand from escalating tensions versus broader market dynamics that have pressured prices over recent weeks.

Other precious metals were mixed. Silver’s sharper decline contrasted with palladium’s gain, while platinum edged lower. No fresh economic data was cited for the moves.