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Gold edges higher to near $5,150 on safe-haven demand
Gold price (XAU/USD) trades with mild gains near $5,140 during the early Asian session on Tuesday. Persistent geopolitical risks in the Middle East provide some support to the precious metal despite recent selling pressure. US President Donald Trump signaled that the Iran war will end soon as the Middle East war has entered its 11th day. However, the Strait of Hormuz remains effectively closed, which has led to major producers in the Persian Gulf, including Saudi Arabia, curtailing output. Uncertainty and fears of a prolonged conflict continue to boost a safe-haven asset such as the yellow metal in the near term. On ... (full story)