Gold prices tumbled on Friday as the brief four-day truce between the U.S. and Iran came to an abrupt end after Iran attempted to target U.S. bases in Jordan, prompting heavy U.S. retaliatory strikes and dimming hopes for a near-term de-escalation. Front Month Comex Gold for August delivery slumped $52.10, or 1.27%, to $4,048.00 per troy ounce, while silver for the same month dropped $1.350, or 2.30%, to $57.465. The renewed conflict drove crude oil prices higher, fueling inflation concerns and expectations that the Federal Reserve will maintain elevated interest rates, with the CME FedWatch Tool showing a 64.80% chance of a 25-basis-point hike at the September meeting. Traders also locked in profits after two days of gains, adding pressure to the precious metal.