The gold price in the Asian market rose early in the session due to a technical rebound.

Gold prices in Asia rose during the early trading session. XS.com market analyst Linh Tran stated that the influence of the U.S. dollar trend, U.S. Treasury yields, and the upcoming U.S. labor market data on gold prices in the coming trading days will surpass the traditional safe-haven narrative. The analyst noted that geopolitical risks no longer guarantee a one-way reaction in gold prices, as tensions in the Middle East can both drive up oil prices and inflation expectations, as well as enhance safe-haven demand. The analyst added that gold is currently in a transitional phase, and the recent increase appears more like a technical rebound. Spot gold rose by 0.4% to $4,058.79 per ounce.