Precious Metals Post Modest Gains

Gold prices saw an increase in markets such as India, while silver attracted some buyers to register modest intraday gains. Silver, however, appeared to lack strong bullish conviction, with its price remaining capped below key technical levels as traders assessed the market.

US Dollar Retreats From Multi-Month Highs

The US Dollar Index pulled back from an 18-month high on Tuesday, a move attributed to an easing in United States Treasury yields. This depreciation of the dollar occurred against several major currencies, although some analysts noted that expectations for a hawkish Federal Reserve could continue to provide underlying support for the greenback.

Geopolitical Tensions Support Oil Prices

Market focus on geopolitical risks, particularly in the Middle East and the Persian Gulf, continued to provide support for crude oil prices. Although West Texas Intermediate (WTI) saw a minor dip after a recent winning streak, the broader market sentiment for oil remained influenced by supply-side risks and ongoing international tensions.