XAU/USD rises as easing geopolitical tensions between the US and Iran boost demand for safe-haven assets.
Gold prices advanced to a one-week high near $4,700 in early Asian trading on Thursday. The rally extended as optimism over a potential US-Iran peace deal reduced geopolitical risk concerns, supporting demand for the precious metal.
The move follows a period of heightened tensions that had previously weighed on market sentiment. Traders are now pricing in reduced tail risks, though broader macroeconomic factors remain in focus.
No immediate market reaction data was provided, but the shift reflects broader risk-on sentiment in commodities.