Spot gold increased 0.2% to $4,518.06 per ounce by 20:57 ET (00:57 GMT) and gold futures rose 0.3% to $4,550.32 per ounce.
Gold has been trading within a $4,400‑$4,600 per ounce band for the last ten days, with the recent rise linked to ongoing US‑Iran peace negotiations.
Inflation concerns stemming from the Iran conflict, highlighted by energy‑driven price spikes in March and April, are prompting market expectations of a near‑40% probability that the Federal Reserve will raise interest rates by December, according to CME FedWatch.
Spot silver gained 0.2% to $77.1055 per ounce, while spot platinum slipped 0.7% to $1,953.19 per ounce.
The article notes that higher interest rates would be adverse for gold, but the peace‑talk optimism is providing short‑term support.
