Gold prices are trading in today’s European session above 2330 levels.
Gold experienced a steep decline in European trading on Tuesday, marking its most notable intraday decrease in nearly two years. This downturn coincided with a relaxation of tensions in the Middle East, leading to decreased interest in safe-haven assets.
In the preceding week, there had been heightened apprehension regarding a potential all-out conflict between Israel and Iran. However, the beginning of this week brought signs of de-escalation.
Nasser Kanaani, a representative from Iran's Foreign Ministry, downplayed the impact of Israel's attacks during a speech in Tehran on Monday, suggesting that Israel had already received an appropriate response.