Iran and the U.S. reignite clashes at a key strait, increasing geopolitical tensions, which adds uncertainty to the peace process, and market risk aversion sentiment rises accordingly.

Although the short-term situation fluctuates, the core long- and medium-term support logic for gold remains intact. On Friday evening, U.S. non-farm payroll data will be released, with major investment banks showing significant divergence in expectations. The data results may disrupt the dollar and Federal Reserve policy expectations, influencing short-term gold market volatility.