Gold prices hold steady below historic 4,600-dollar peak as investors lock in profits

Trump Powell standoff fuels safe haven rush as gold hits fresh all time high peaks

Gold prices steadied below the record $4,600 per ounce mark on Tuesday, as investors engaged in profit-taking following a sharp rally to new highs. Spot gold hovered around levels seen early in the session, reflecting a pause after Monday’s surge driven by geopolitical risks and U.S. policy uncertainties. This consolidation comes after gold hit fresh peaks above $4,629, underscoring its role as a safe-haven asset amid ongoing global tensions.

Recent price action
Spot gold traded at $4,595.08 early Tuesday, with buyers pausing after the previous session’s rally to $4,630. U.S. gold futures for February delivery had settled higher at around $4,614 the prior day, but profit booking led to a flat open at $4,602.29.