Ammon News - Gold prices rebounded on Thursday from a ‌one-month low hit the day before, though gains were capped as elevated oil prices kept fears alive of inflation and higher-for-longer interest rates.

Spot gold was up 0.3% at $4,553.69 per ounce, as of 0417 GMT, after ​falling to its lowest level since March 31 in the previous session. U.S. gold ​futures for June delivery rose 0.1% to $4,565.10.

Brent crude rose above $124 a barrel on a report the U.S. is considering ​potential military action against Iran to break the deadlock in negotiations to end the war, ​increasing concerns of more supply disruptions to already curtailed Middle East exports.

The Federal Reserve held interest rates steady on Wednesday, but in its most divided decision since 1992 noted rising concerns about inflation ​in a policy statement ​that drew three dissents ⁠from officials who no longer feel the U.S. central bank should communicate a bias towards lowering borrowing costs.

Spot silver rose 0.7% to $71.98 per ounce, platinum gained 1.8% ​to $1,912.12, and palladium was up 0.3% at $1,462.72.