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Asian Market Morning: Gold Rises as Geopolitical Risks Ignite Safe-Haven Demand
In the Asian market morning, spot gold rose by 0.7%, trading at $4,541.80 per ounce.
On the news front, Trump is scheduled to receive a briefing on Tuesday regarding responses to protests in Iran. Meanwhile, the US continues to seize "shadow oil tankers" related to sanctions on Venezuela's oil transportation, escalating geopolitical risks.
Saxo Bank's Head of Commodity Strategy Ole Hansen stated that geopolitical hedge demand, capital flows, and structural investment themes are resonating, driving a strong start to the year for precious metals like gold.