Gold prices are trading in today’s Asian session above 2330 levels.
Gold took a sharp nosedive during Asian trading on Tuesday, registering its most significant intraday drop in almost two years.
This decline came as tensions in the Middle East eased, reducing the demand for safe-haven investments. The previous week had seen heightened concerns about a potential full-scale conflict between Israel and Iran.
However, as this week began, there were indications of a de-escalation. Nasser Kanaani, a spokesperson for Iran's Foreign Ministry, played down the effects of Israel's attacks during a speech in Tehran on Monday, indicating that Israel had already faced a suitable response.