Gold prices edged lower on Friday, partially reversing the previous day's surge, as uncertainty over U.S.-Iran peace talks and rising near-term interest rate expectations weighed on the market. Front Month Comex Gold for August delivery fell $25.10, or 0.61%, to $4,115.70 per troy ounce, while Front Month Comex Silver for August delivery dropped $0.627, or 1.04%, to $59.900 per troy ounce. The decline came amid fading prospects for a peaceful settlement after three ships were hit by unidentified projectiles in the Strait of Hormuz on Monday, prompting U.S. strikes on nearly 170 targets in Iran and retaliatory attacks by Iran's Islamic Revolutionary Guards Corps on U.S. bases. President Trump's mixed signals—calling the ceasefire 'over' while allowing diplomatic efforts to continue—added to investor caution, and the latest Federal Open Market Committee minutes hinted at a hawkish stance, further pressuring gold.