Gold (XAU/USD) is experiencing a mild pullback during the European session after reaching a two-month high of $3,452.72 in the Asian session on Monday.
Geopolitical tensions, especially the conflict between Israel and Iran, have contributed to supporting Gold prices. However, after peaking, XAU/USD pulled back, trading above $3,400 at the time of writing.
The main drivers of Gold prices so far have been their safe-haven appeal, movements in US 10-year Treasury yields, and profit-taking at higher levels.
Tensions between Israel and Iran have escalated over the weekend and are entering the fourth day of fighting with no signs of easing. The international community, including the United Nations (UN), Saudi Arabia, and the US, has called for calm and urged de-escalation.
Source: FXStreet
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