Gold steady as Mideast escalation tempers easing inflation optimism

Spot gold held near $4,056.59 per ounce while U.S. gold futures for August delivery rose 0.3% to $4,062.50, as Middle East tensions tempered optimism from softer U.S. inflation data. Oil prices extended a four-session rally after the U.S. struck Iran's coastal defenses and missile sites, with Iran threatening to disrupt regional energy exports. U.S. producer prices posted their biggest decline in 14 months in June, while Fed officials signalled willingness to act on inflation, and China's Q2 GDP grew at its slowest pace in over three years.