Gold maintains recent gains at $3,945 as geopolitical developments regarding US-Iran relations pressure oil prices and keep the metal near its yearly low.
Gold is maintaining its recent recovery near the $3,945 level during Asian trading hours. The metal's price action remains heavily influenced by broader geopolitical sentiment, specifically the potential for a US-Iran deal, which has exerted downward pressure on oil prices and impacted safe-haven demand.
Gold is trading around $3,945 in the Asian session.
The yearly low was recorded at $3,870.23 on the previous Friday.
Gold prices remain steady near $3,945 during Asian trading hours as market participants weigh the potential for a US-Iran nuclear deal. The precious metal continues to trade near its yearly low of $3,870.23, which was established during Friday's session.
Gold prices are reacting to geopolitical developments, specifically hopes for a deal between the US and Iran, which has exerted downward pressure on oil prices.