Gold prices rose during Asian trading on Tuesday as demand for safe-haven assets rose amid renewed geopolitical tensions, amid expectations that the Reserve will end the monetary tightening cycle in September.
Gold has been rising since last week, and today it approached a record high due to the fear of a war in the Middle East after threats to the Zionist entity.
An Axios report said today that an attack by Iran is unlikely tonight, which led to a decline in gold, with profit-taking operations increasing after gold hit its highest level in more than a week near the levels of 2477 dollars per ounce, The declines are expected to continue until something new is found.
On the other hand, traders are waiting for the key US inflation data represented by the Consumer Price Index, which may provide more clues about the Fed's next monetary policy decision in September.
At which point the Fed is likely to start cutting interest and end this tightening cycle.
