Drivers for the yellowish metal's gains include uplifting economic data released by the U.S. and Europe as well as the threats to stability posed by Iran and its nuclear aspirations. The oil-rich Middle Eastern nation supplies Japan and South Korea roughly 10 percent of their crude oil needs, according to The Wall Street Journal.
Gold futures are poised to benefit from safe-haven appeal amid the tumult as the precious metal on Tuesday notched its top daily gain since October 25.
At 5:22 a.m., gold futures rose 0.32 percent, a $5.10 increase to $1,605.60 per troy ounce. At 5:23 a.m., crude oil futures lost 0.07 percent, an 8 cent loss to $112.05 per barrel.
Both Asian nations are considering the exploration of diplomatic channels to negotiate with the U.S. should the nation hosting the globe's largest economy levy sanctions upon Iran, according to The Wall Street Journal.
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