Gold advanced during the early Asian trading session. Spot gold climbed 0.7% to $4,541.80 per ounce. Media reports, citing U.S. officials, indicated that President Trump is scheduled to be briefed on Tuesday regarding specific options for responding to the protests in Iran. Concurrently, the United States continues to detain so-called shadow tankers that transport sanctioned oil to and from Venezuela. Ole Hansen from Saxo Bank noted in an email that escalating geopolitical risks linked to Iran and Venezuela have revitalized safe-haven demand for gold. The head of commodity strategy added, "Gold, silver, and platinum have had a strong start to the year, reflecting a combination of geopolitical hedging, fund flows, and structural investment themes."
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