Gold prices moved higher during early Asian trading hours. XS.com market analyst Linh Tran indicated that the influence of the US dollar's trajectory, US Treasury yields, and the upcoming US labor market data will outweigh traditional safe-haven narratives in determining gold's price direction over the coming sessions.

The analyst noted that geopolitical risks no longer trigger a one-way reaction in gold prices, as tensions in the Middle East can simultaneously boost oil prices and inflation expectations while also strengthening demand for safe-haven assets.

Tran added that gold is currently in a transitional phase, with the recent uptick appearing more like a technical rebound. Spot gold rose 0.4% to $4,058.79 per ounce.