Gold futures climbed over 1% on Tuesday. Investors sought safety following conflicting reports regarding diplomatic negotiations between the United States and Iran.
Iranian media initially reported a suspension of talks. President Donald Trump later contradicted these reports, stating that discussions remain ongoing.
Geopolitical risks in the Middle East continue to drive demand for the precious metal. While a partial ceasefire between Israel and Hezbollah eased some market concerns, the Washington-Tehran uncertainty maintains gold's role as a hedge against instability.