Help Is on the Way? Gold Moves Immediately in Asia
Gold prices rose slightly in early Asian trading, driven by lingering geopolitical tensions. Such conditions typically lead investors to return to gold as a safe haven asset when markets are uncertain.
The main trigger came from statements by US President Donald Trump. On two occasions on Tuesday, Trump told protesting Iranians that "help is on the way." This signal fueled speculation that the US could take more decisive action in the near future.
According to Commerzbank Research analyst Carsten Fritsch, the large protests in Iran and the local government's harsh response are factors that have strengthened gold's appeal. He believes the situation increases the possibility of escalation, including military intervention, which typically increases demand for safe havens.
In line with this sentiment, the spot gold price rose 0.2% to $4,596.09 per ounce. Market participants are now monitoring whether these tensions will be eased through diplomacy or trigger a new wave of risk that could push gold back to test its next high. (az)
Source: Newsmaker.id