Gold Holds Steady as Traders Weigh US-Iran Talks, Fed Outlook

Gold traded near unchanged on Tuesday, extending its recent rangebound price action. The metal has struggled for direction as investors balance competing factors.

Uncertainty over US-Iran diplomatic efforts to ease tensions is providing some underlying support to the safe-haven asset. However, the lack of a clear resolution is preventing a sustained rally.

Meanwhile, traders are also parsing signals from the Federal Reserve regarding the future path of interest rates. The outlook for monetary policy remains a key driver for the non-yielding metal's appeal.

XAU/USD continues to consolidate, with market participants awaiting fresh catalysts from either geopolitical developments or central bank commentary.