Spot gold rose 0.7% to $4,750.76/oz and futures 1.1% to $4,769.41/oz on Wednesday.
The rally was supported by a 0.1% dip in the U.S. dollar index and hopes from Trump’s cease‑fire extension with Iran.
Fed nominee Kevin Warsh said he made no promises to cut rates, tempering expectations for monetary easing.
Brent crude hovered just below $100 a barrel, raising inflation concerns that could pressure central banks to hike rates.