Iran Heats Up, Safe Havens Rush
Gold prices strengthened in this morning's Asian session, as US-Iran tensions persist. Investors are once again in "safe haven" mode as geopolitical risks remain high.
Several governments in the Middle East are reportedly trying to encourage the US and Iran to resume negotiations to avoid conflict. However, these efforts have not yielded results as both sides remain steadfast in their respective positions.
Meanwhile, the United States is increasing its military deployment to the Middle East. President Donald Trump has also renewed threats of attack if an agreement is not reached, raising market alertness.
This situation has automatically boosted demand for safe-haven assets. According to Abdelaziz Albogdady of FXEM, ongoing tensions have strengthened gold buying interest as investors seek refuge from risk.
In addition to geopolitical factors, gold is also supported by strong investment flows and continued central bank purchases. The spot gold price rose 1.1% to $5,438.75 per ounce. (az)
Source: Newsmaker.id