Gold futures gained more than 1% Thursday to reclaim the $4,100 level as bargain hunting emerged a day after prices fell sharply and investors kept a wary eye on renewed Middle East tensions. Front-month Comex gold for July delivery added 1.5% to $4,130.60 an ounce, while front-month Comex July silver jumped 3.8% to $60.378 an ounce. StoneX senior market strategist Bob Haberkorn noted some bargain hunting after the previous day's drop and said the main short-term driver for gold is the Federal Reserve. Higher energy prices from renewed U.S.-Iran conflict could complicate the inflation outlook, reinforcing expectations that the Fed will keep rates higher for longer or increase them further. Investors will closely monitor next week's inflation data and Fed Chair Warsh's congressional testimony for further clues into the direction of monetary policy.