Gold traded in a narrow range as traders weighed inflationary risks against attempts to contain an oil-supply shock arising from the war in the Middle East.
Bullion added as much as 0.5% to hold above $5,000 an ounce, after slipping 0.3% in the previous session. Oil advanced after its first decline in almost a week, as Iran stepped up attacks on energy infrastructure around the Persian Gulf and the US prepared to release the first tranche of emergency crude stockpiles. President Donald Trump appealed for help from other nations to secure the Strait of Hormuz, where transit remains at a near-halt.
