Gold futures in New York rose 0.20% to $3,350 per ounce during Tuesday’s session, extending their recent upward trend. The modest gain reflects continued safe-haven demand amid lingering economic uncertainty and geopolitical tensions, despite pressure from a resilient U.S. dollar.
The precious metal’s performance highlights its dual role as both an inflation hedge and risk-off asset, with traders cautiously positioning ahead of key U.S. inflation data later this week. Market technicians note the $3,350 level represents a psychologically important threshold that could signal further upside potential.
Gold’s steady climb occurs alongside mixed signals in other asset classes, with equities showing fatigue after recent gains while Treasury yields remain rangebound. The metal’s ability to advance in this environment underscores its value as a portfolio diversifier amid shifting macroeconomic expectations.
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