June gold futures opened 1.1% higher but retreated to $4,535 per ounce amid U.S. airstrikes on Iranian targets.
Gold June futures opened at $4,571.60 per troy ounce on Tuesday, a 1.1% increase from Friday’s close, before slipping to $4,535 in early trading. The initial rise followed reports of U.S. airstrikes targeting Iranian missile sites and mining boats in the Strait of Hormuz.
Prices have fluctuated modestly over the past week, with a $24 difference between last Monday’s opening and today’s. Year-over-year, gold remains up 37.4%, though gains have moderated from a 95.6% peak in late January.
Market reaction has been muted, reflecting gold’s mixed response to geopolitical risks amid steady trading conditions.