Gold (XAU/USD) rebounds on Tuesday, recovering from a modest pullback after posting a fresh record high of $5,111 on Monday. The metal remains underpinned by strong safe-haven demand as investors stay cautious amid lingering geopolitical tensions and broader economic uncertainty.
Deutsche Bank Research highlights the impact of higher geopolitical volatility on commodity prices, particularly Gold. The report suggests that Gold's continued rise is driven by persistent investment motives, with expectations of reaching USD 6,000/oz this year.
The USD/CAD pair builds on the overnight recovery from the 1.3670 area, or a nearly four-week low, and gains some follow-through positive traction for the second straight day on Tuesday.