Gold prices edged higher on Wednesday, recovering from near one-week lows as market attention shifted to the upcoming release of the Federal Reserve's June meeting minutes.
The precious metal found support after a recent pullback, with investors balancing cautious optimism over monetary policy against renewed geopolitical volatility.
Gains in gold were capped by fresh reports of US-Iran strikes, which reignited supply risk premiums across energy markets.
This geopolitical friction continues to weigh on broader sentiment, preventing a stronger rebound in safe-haven assets despite the softer macro backdrop.
The interplay between policy expectations and geopolitical risk remains the primary driver for precious metals.
Traders are closely monitoring the Fed minutes for clues on the central bank's stance amid persistent inflation concerns.