Gold prices rose slightly in the morning session in Asia, driven by geopolitical conditions that typically drive investors to seek safe-haven assets like gold.
The latest trigger came from the US seizing a second oil tanker near Venezuela on Saturday. This action increased pressure on the government of President Nicolás Maduro.
According to analyst Milad Azar of XTB MENA, geopolitical tensions remain a "key support pillar" for gold prices. He believes friction between the US and Venezuela has the potential to escalate.
Azar also noted that tensions have not subsided in several other areas, such as China-Japan relations, as well as conflicts and tensions in the Middle East and Eastern Europe.
At the time of this report, spot gold was up 0.2% to $4,348.10 per ounce. (asd)
Source: Newsmaker.id
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