Gold prices climbed to a three-month high near $4,697 earlier Tuesday in the Asian session, according to FX Street. However, the precious metal later retreated to around $4,630 during European trading as investors engaged in profit-taking and US yields declined.
The Relative Strength Index (RSI) indicated that gold had entered overbought territory following its recent rally, signaling potential for a pullback. The price drop of approximately 0.4% reflects this technical correction after the strong upward momentum.
For Japanese investors, this movement in gold prices comes amid ongoing volatility in global markets, where safe-haven assets like gold remain closely watched amid fluctuations in US interest rates and currency valuations.