Gold fell below $3,400 during Monday's intraday trading by around 1.45% despite tensions in the Middle East remaining high, especially the escalating Israel-Iran conflict.
At 9.15am, gold was at $3,400.51, up 0.47% since it opened early Tuesday in Asian trading.
Last Friday, Israel attacked Iranian military and nuclear facilities and targeted key officials after rumors that Tehran would produce a nuclear bomb in the near future.
The conflict has become more difficult as negotiations between the United States and Iran stalled when Israel launched a war.
Recent news supports gold's position moving higher and it shows a downward trend after there was news that Iran signaled that they were ready to negotiate over its nuclear program. However, the report was denied by Iranian officials.
In addition, major central banks are expected to set their latest monetary decisions with the market predicting the Federal Reserve (Fed) will keep rates steady.
Market participants will also be paying attention to the Bank of Japan (BoJ) and Bank of England (BoE) decisions in the near future.
Currently, US economic data also includes Retail Sales, housing and business activity reports to assess the market situation in the United States.
