Gold holds near seven-week high as won leads Asian currency losses

Gold held steady near seven-week highs as traders weighed uncertainty over Iran and the outlook for Federal Reserve policy, Investing.com reported. In currency markets, the dollar edged higher, sending Asian units lower. The South Korean won led regional losses, and the Japanese yen also weakened. Geopolitical risk premia have been shifting: a Reuters Morning Bid column noted that the Strait of Hormuz — long treated as the world's most sensitive oil chokepoint — has become far less consequential for the United States specifically, given the change in US import dependence, even as it remains critical for Asian buyers.