Gold (XAU/USD) loses ground on Tuesday as the US Dollar (USD) and Oil prices rebound after renewed US military strikes in southern Iran dampen hopes for a quick end to the Middle East war. At the time of writing, XAU/USD is trading around $4,511, easing from an intraday high of $4,580.
Citing a source close to Tehran's negotiation team, Iran's Tasnim news agency reported on Tuesday that Iran insists $24 billion of frozen Iranian funds must be released in a potential Memorandum of Understanding (MOU) with the United States (US).
The EUR/GBP cross gathers strength to near 0.8630 during the early European session on Tuesday. Hawkish remarks from the European Central Bank (ECB) provide some support to the Euro (EUR) against the British Pound (GBP).