Asia stocks mixed amid Iran uncertainty.
Asian stock markets were mixed on Tuesday, with South Korean shares touching record highs on chipmaker gains, while broader sentiment remained cautious as investors tracked developments around a fragile U.S.-Iran ceasefire.
Wall Street futures edged higher in Asian trading on Tuesday after U.S. stock benchmarks closed marginally lower overnight.
Traders eye US-Iran talks ahead of ceasefire expiry
However, gains across the region were capped by renewed geopolitical uncertainty.
Oil prices remained largely elevated after tensions between Washington and Tehran intensified, following the reported seizure of an Iranian vessel and concerns over potential disruptions in the Strait of Hormuz, a critical energy route.
Investors were also closely watching diplomatic efforts in Islamabad, where talks aimed at de-escalating the conflict have produced mixed signals.
Gold edges lower with US-Iran talks.
Gold prices fell slightly in Asian trade on Tuesday as markets remained uncertain over whether the U.S. and Iran will engage in more peace talks before their ceasefire ends later this week.
Focus was also on a Senate confirmation hearing for U.S. President Donald Trump’s nominee for Federal Reserve Chair Kevin Warsh, which is set to take place later in the day.
Spot gold fell 0.6% to $4,790.05 an ounce, while gold futures fell 0.4% to $4,808.29/oz by 01:15 ET (05:15 GMT).
Among other precious metals, spot silver fell 0.8% to $79.0845/oz, while spot platinum fell 0.3% to $2,085.07/oz.
Iran talks in focus as ceasefire deadline looms
Gold remained squarely in a tight trading band seen for over two weeks, as spot prices struggled to break out of a $4,700-$4,900/oz range. The yellow metal has underperformed since the onset of the U.S.-Israel war on Iran, as haven demand was largely overshadowed by concerns over the war’s inflationary impact.
Bitcoin ticks higher despite U.S.-Iran tensions.
Bitcoin ticked higher on Monday, even as risky assets such as equities largely slipped after a renewed flare-up in tensions between the U.S. and Iran.
The U.S. over the weekend seized an Iranian cargo ship, leading to an outcry from Iran and casting uncertainty over future peace talks between the two warring nations.
The world’s largest cryptocurrency was last up 2% to $75,919.0 by 17:50 ET (21:50 GMT).
U.S.-Iran tensions escalate ahead of ceasefire expiry
The decline came after a series of geopolitical moves over the weekend, including the U.S. seizure of an Iranian-flagged cargo vessel and Tehran’s indication it may not participate in further negotiations.
The situation has raised fears of renewed conflict, particularly as the Strait of Hormuz remains shut, a key artery for global oil shipments. The rising tensions pushed oil prices higher and triggered a broader risk-off move, with U.S. stocks ending lower on Monday.
Investors also received conflicting headlines on the state of more peace talks between the U.S. and Iran. President Donald Trump told Bloomberg News that Vice President JD Vance would be leaving later in the day to resume peace talks in Pakistan.
But the New York Post earlier reported that Vance would actually be leaving to Pakistan on Tuesday, citing people familiar with the matter. Trump previously told the paper that the U.S. delegation would be in Pakistan.
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