Gold rises 0.8% as bargain hunters buy and oil dips
Gold prices made a comeback on Tuesday, climbing 0.8% after hitting a more-than-one-month low.
This rebound was mostly thanks to bargain hunters jumping in and oil prices dipping slightly.
Still, experts say gold's next moves will depend on upcoming economic data and any signals about interest rates.
Middle East tensions lift precious metals
Rising tensions in the Middle East are making global markets nervous. The United Arab Emirates reported missile and drone attacks linked to Iran, while the US mentioned a shaky ceasefire in the Strait of Hormuz, a key route for oil shipments that has been disrupted since late February.
With energy costs up and inflation worries growing, many investors are keeping an eye on gold as a safe place to park their money—even with high interest rates around.
Other precious metals like silver, platinum, and palladium also saw small gains.