[MARKET UPDATE] Spot XAU breaks to a new ATH, currently at USD 4554/oz, amid tensions in Iran and recent US data

The new all-time high in spot XAU reflects heightened safe-haven demand driven by geopolitical tensions in Iran and supportive recent US economic data.

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US President Trump says the military is considering very strong options on Iran

[MARKET UPDATE] USD/JPY gradually dips under 158.00 (vs high 158.21), with some participants on intervention watch around these levels. Note: Japan is also on holiday, thus volumes from the region likely lower

[MARKET UPDATE] Spot XAU breaks to a new ATH, currently at USD 4554/oz, amid tensions in Iran and recent US data

Federal prosecutors have opened up a criminal investigation into Fed Chair Powell over the central bank’s renovation of its Washington headquarters and whether Powell lied to Congress about the scope of the project, NYT reports citing officials

[MARKET UPDATE] KOSPI opens +1.5%, Japanese markets closed for holiday; Overall mood in APAC positive thus far; US equity futures remain softer across the board (ES -0.2%, NQ -0.3%)

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Context

This context suggests that concerns about stability are overshadowing some positive indications in the economy, potentially leading to further price appreciation as investors seek refuge in gold amid uncertainty.

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