Gold steadied near a record high, after surging on Monday as Iran’s strike on Israel added more impetus to a rally that’s seen it jump by a fifth since mid-February.
Bullion held a 1.7% gain made in the previous session as attention turned to a potential counter-strike that risks starting a full-blown war between the two Middle Eastern powers. Israeli military officials reasserted they have no choice but to respond, while the US and Europe urged restraint.