Gold prices surged by more than 1.50% during the North American session on Tuesday, driven by escalating missile strikes between the US and Iran, according to FX Street. This geopolitical tension has heightened demand for safe-haven assets, pushing the XAU/USD pair to trade at $4,071.
The increase in gold reflects investor caution amid the ongoing conflict, as precious metals typically gain appeal during periods of uncertainty. FX Street highlights that the price movement occurred specifically during the North American trading hours, underscoring the immediate market reaction to the conflict developments.
For Japanese investors, this rise in gold prices may influence portfolio adjustments, especially given the yen's sensitivity to global risk sentiment and the safe-haven status of gold in times of geopolitical instability.