Gold Near Record High Amid Geopolitical Tensions; Investors Eye Nvidia Earnings

Gold prices approached a record high, and oil prices steadied as investors reacted to geopolitical risks, Nvidia earnings, and U.S. inflation data. European stocks remained flat, but Japan's Nikkei index saw a late rally. Expectations for U.S. rate cuts and Middle East tensions influenced market movements.

Gold prices were approaching a record high on Tuesday, driven by geopolitical uncertainties and expectations for U.S. rate cuts. Investors also turned their attention to Nvidia's earnings and U.S. inflation data due later this week.

U.S. S&P 500 and Nasdaq futures remained flat, while European stocks showed minimal movement. Japan's Nikkei index experienced a late rally, adding some optimism to the market.

Oil prices steadied after a three-session surge of over 7%, driven by tensions in the Middle East and concerns about Libyan oil field shutdowns. Federal Reserve Chair Jerome Powell hinted at imminent rate cuts, further boosting market sentiment.

(With inputs from agencies.)