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Gold prices (XAU/USD) remain near $5,145 during the Asian session amid heightened safe-haven demand driven by escalating US-Iran tensions. The precious metal has gained traction as investors seek refuge from geopolitical risks, with the conflict in the Middle East amplifying demand for non-yielding assets. The US will release its weekly Initial Jobless Claims report later in the day, which could influence short-term market dynamics. The rise in gold underscores its role as a traditional safe-haven asset during global uncertainties. Traders are closely monitoring how the US-Iran standoff evolves, as any escalation could further drive investors toward gold. Additionally, the labor market report will provide insights into the US economy's health, potentially affecting the dollar's strength and gold's price trajectory. For markets, the interplay between geopolitical tensions and macroeconomic data will shape gold's near-term direction. Investors should watch for developments in the Middle East and the jobless claims report, which may trigger volatility. Central banks' gold-buying trends and the Federal Reserve's policy stance will also remain critical factors in the coming weeks.
