Gold eases as Fed signals slower policy easing, platinum scales 10-year high

*Fed keeps rates steady, but pencils in two cuts by end of 2025

*Israel attacks Iranian nuclear sites

*Iranian missile damages Israeli hospital

*Platinum at over 10-year high

Gold prices edged down on Thursday, after the U.S. Federal Reserve signalled a hawkish interest rate outlook, while platinum scaled its highest level since September 2014 on speculative buying.

Spot gold was down 0.1% at $3,363.89 an ounce at 0818 GMT. U.S. gold futures fell 0.8% to $3,380.60.

"The U.S. Federal Reserve indicated that inflation risk remains high. So that reduces the chances of resuming the interest rate cuts, which is weighing on gold prices," said ANZ Commodity Strategist Soni Kumari, adding that a stronger dollar was adding to the pressure.

The Fed held interest rates steady on Wednesday and policymakers still forecast cutting rates by half-a-percentage point this year, but slowed their overall outlook for rate cuts in response to a more challenging economic outlook.

However, Fed Chair Jerome Powell cautioned against putting too much weight on this outlook, warning of "meaningful" inflation ahead as higher import tariffs loom.

Meanwhile, Iranian missiles struck an Israeli hospital on Thursday while Israel hit targets across Iran as President Donald Trump kept the world guessing about whether the U.S. would join Israel in air strikes seeking to destroy Tehran's nuclear facilities.

Gold is considered a safe-haven asset during times of geopolitical and economic uncertainty. It also tends to thrive in a low-interest rate environment.

In other metals, platinum lost 1.3% to $1,305.68, and hit its highest level since September 2014 earlier in the session.

Platinum prices are supported by rising Chinese imports, ongoing supply concerns, high lease rates and increased investor interest as high gold prices push consumers toward cheaper alternatives.

The fundamentals in the platinum market have not changed, whenever a key technical level such as the 1,000 mark is broken, investors and the speculators will start buying, Kumari said.

Palladium lost 1% to $1,038.40, while silver fell 1.1% to $36.34 per ounce.