Gold prices remained above $4,400 per ounce on Tuesday, swinging between modest gains and losses as investors responded to heightened tensions in the Middle East.
Recent moves in the precious metal follow a sharp weekly decline, with prices falling as much as 25% from March peaks amid inflation fears and expectations of further interest rate hikes. International spot gold is currently trading at $4,418.36 per ounce, reflecting a slight daily recovery from four-month lows.
Geopolitical developments in the region have contributed to market volatility. Iran denied reports of negotiations with the United States, dismissing President Donald Trump’s claims of talks to resolve the conflict as attempts to influence financial markets.
Iran has also launched new attacks on US targets, while Israel continues strikes across Iran and Lebanon, leaving the situation in the Strait of Hormuz uncertain.
Gold staged a partial intraday rebound on Monday after planned US strikes on Iranian energy infrastructure were postponed, illustrating the metal’s sensitivity to geopolitical risk.
Analysts note that uncertainty surrounding oil supply and ongoing inflation pressures continues to influence global gold demand.
Intraday trading saw gold prices fluctuate between a low of $4,363.50 and a high of $4,450.50, opening at $4,414.80 and registering a daily increase of 0.38%, with total volume at 7,508 contracts and open interest at 149,406.
As markets monitor geopolitical developments and inflationary trends, gold remains a focal point for investors seeking a safe-haven asset amid global uncertainty.
