WASHINGTON (dpa-AFX) - Gold gave up early gains to turn flat on Friday, after having surged more than 1 percent above $2400 per ounce in Asian trading.
Spot gold last traded up 0.1 percent at $2,381.82 per ounce, while U.S. gold futures were marginally lower at $2,396.50.
The surge above $2.400 came after Israeli missiles targeted a site in Isfahan province in Iran, raising fears of a widening of the conflict.
However, Iran's state-run media downplayed the attacks, saying the explosions heard in Isfahan were the result of the activation of Iran's air defense systems.
Also, the nuclear facilities in Iran's central Isfahan province are completely safe, the semi-official news agency Tasnim reported.
The International Atomic Energy Agency (IAEA) also confirmed that there has been no damage to Iranian nuclear sites as a result of the Israeli strike confirmed by U.S. officials.
Hawkish comments from Federal Reserve officials also led investors to prepare for a higher-for-longer regime.
Atlanta Fed President Raphael Bostic expects a single rate cut in 2024 but went as far as to say that he's open to a rate hike if progress on inflation stalls.
New York Fed President John Williams said a rate hike is not his base case and incoming data will determine the timing of rate cuts this year.
Minneapolis Fed President Neel Kashkari hinted at holding off interest-rate cuts until after 2024.
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