Gold prices stayed mostly steady on Tuesday as investors took a cautious approach ahead of a key deadline set by Donald Trump regarding the reopening of the Strait of Hormuz.
Spot gold slipped slightly by 0.1% to $4,640.93 per ounce, while U.S. gold futures for June fell 0.4% to $4,666.70.
The market is basically in “wait and see” mode. Traders are watching how the situation develops, especially with rising tensions involving Iran.
Iran has rejected a temporary ceasefire and is pushing for a permanent end to the conflict. On the other side, the U.S. has warned of stronger action if the deadline isn’t met.
All of this uncertainty is why gold isn’t moving much right now. Investors are holding back, waiting for clearer signals before making big moves.
