Gold prices steadied close to two-month highs on Tuesday, supported by elevated oil prices amid ongoing tensions between the US and Iran. According to FX Street, gold reached an intraday peak of $4,435 during Asian trading hours.
However, the precious metal saw a slight pullback in European trading, with prices declining about 0.26% to around $4,380, FX Street reported. This pause reflects cautious investor sentiment as geopolitical risks continue to influence commodity markets.
For Japanese investors, the interplay between rising energy costs and safe-haven assets like gold remains a key factor to watch, especially given Japan's reliance on energy imports and sensitivity to global risk developments.