In the early morning trading session, the price of gold in the Asian market slightly increased, due to signs of easing tensions in the Middle East.

Gold edged higher as signs emerged that tensions in the Middle East were easing, which could lead to a drop in oil prices and alleviate concerns about central banks raising interest rates. Spot gold rose 0.3% to $4,686.07 an ounce. President Trump informed his aides that he was willing to end the war with Iran, even though most of the Strait of Hormuz remains closed. Reports from the Middle East suggested that Iranian President Pezheshkiyan might consider ending the war if certain demands were met. Four members of the research department at Oversea-Chinese Banking Corporation Group stated in a report that expectations of the Federal Reserve easing policy could return if geopolitical tensions ease or concerns about economic growth resurface. They added that in this scenario, real yields could decline, providing support for gold.