On Tuesday, gold prices remained steady at $4,646.69 per ounce as investors exercised caution ahead of a deadline set by U.S. President Donald Trump regarding the reopening of the Strait of Hormuz, a critical point in the ongoing conflict involving Iran. U.S. gold futures for June delivery saw a slight decline of 0.2% to $4,674.40. Iran expressed its desire for a lasting resolution to its conflict with the U.S. and Israel, despite pressure to reopen the Strait. The U.N. Security Council is expected to vote on a resolution aimed at safeguarding commercial shipping in the area, although the proposal has been significantly weakened due to opposition from China. Meanwhile, oil prices have surged, remaining above $110 per barrel as tensions escalate. Investors are also looking forward to U.S. inflation data, including the Personal Consumption Expenditures (PCE) and Consumer Price Index (CPI), which are anticipated to provide further market direction.