XAU/USD rises sharply amid geopolitical tensions in the Gulf, offsetting strength in the USD.
Gold prices climbed more than 1.5% on Tuesday as missile strikes between the US and Iran intensified, defying ongoing mediation efforts to de-escalate the conflict. The XAU/USD pair traded higher during the North American session, reflecting safe-haven demand amid rising geopolitical risks.
Prior to the rally, gold had faced pressure from a stronger USD, which typically weighs on dollar-denominated commodities. The latest surge underscores investor appetite for safe assets despite the greenback’s resilience.
No immediate market reaction data was provided, but the move highlights gold’s role as a hedge during heightened uncertainty.