Gold edged up in Asian trade, lingering not far from record peaks as the demand on safe haven continued being bolstered by worries over geopolitical disruption in the Middle East specially the attack of Iran on Israel that recently took place over the weekend.

However, the surge in the greenback pared major gains in gold, as mounting projections of longer period of peaked interest rate driven by treasury yields.

During the previous two weeks, gold hit major gains, supported mainly by demand on safe haven.

Spot gold added 0.1% to $2,385.35 per ounce, while gold futures advanced by 0.7% to $2,401.50 per ounce.

Spot gold touched a record peak of $2,431.53 per ounce on Friday, right prior Iran’s attack on Israel.

The latest tick up in the yellow metal was driven on larger scale by the geopolitical turmoil in the Middle East, following Iran’s strike on Israel.

Eyes are on Federal Reserve Chair Jerome Powell speech scheduled later during the day, as markets are anticipating any hints regarding the interest rate trajectory for the year.