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Gold prices edged higher during Asian trading on Tuesday after U.S. President Donald Trump announced that a planned military strike against Iran had been postponed while diplomatic negotiations continued. The development increased investor interest in safe-haven assets, supporting gains in both spot gold and gold futures.
Spot gold rose 0.1% to $4,570.31 per ounce by 00:39 GMT, while gold futures gained 0.3% to trade at $4,574.0 per ounce. The precious metal also benefited from a slight pullback in U.S. Treasury yields, easing pressure that had weighed on bullion markets in recent sessions.
Trump stated that “serious negotiations” with Iran were underway, raising hopes of a possible de-escalation in tensions involving the United States, Israel, and Iran. Investors viewed the comments as a sign that the conflict may avoid further escalation, potentially reducing inflation risks tied to geopolitical instability and energy supply disruptions.
Lower Treasury yields provided additional support for gold prices. U.S. 10-year Treasury yields slipped 0.6% on Monday evening after a prolonged bond market sell-off, while Japanese 10-year bond yields eased from their highest levels in nearly three decades.
Meanwhile, oil prices declined sharply after Trump’s remarks, although crude remained elevated due to reduced shipping activity through the Strait of Hormuz, a key global oil transit route. The weaker U.S. dollar also helped lift precious metals, making gold more attractive to international investors.
Other metals also posted gains, with spot silver climbing 0.6% to $78.1120 per ounce and platinum rising 0.1% to $1,987.50 per ounce.
Analysts expect gold prices to remain sensitive to geopolitical developments, bond market movements, and changes in U.S. monetary policy expectations in the coming weeks.
