Gold prices rebounded on Tuesday, gaining traction from rising geopolitical tensions in the Middle East, prompting investors to gravitate toward safe-haven assets, despite a strengthening US dollar.
Despite its recent uptick, the US dollar remains near its 2-year lows, and while its gains may limit gold's growth, global economic uncertainties continue to support gold's appeal as a safe haven.
With economic indicators like JOLTS job openings and ISM manufacturing reports on the horizon, market analysts are keeping a close eye on how employment developments could impact gold prices significantly.
The Federal Reserve's focus on labor market conditions indicates that substantial shifts in employment statistics may lead to volatility in gold pricing throughout the week.
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