On May 28, spot gold fell 1.1% to $4,406.81 per ounce, its lowest level since March 27, while U.S. gold futures for June delivery dropped 0.9% to $4,404.90. The U.S. dollar reached a near one-week high, oil prices rose about 2% in early Asian trade, and U.S. military strikes targeted an Iranian site officials said threatened forces and shipping in the Strait of Hormuz. President Trump had dismissed an Iranian report of a deal on Hormuz traffic hours before the strikes.