Gold spot rose 2.7% to $4,832.51 per ounce, reaching a three‑week high, its highest level since March 19.
President Donald Trump announced a two‑week Iran ceasefire, sending oil prices down over 15% and the US dollar index down nearly 1%.
Silver surged 6% to $77.38 per ounce, platinum rose 4.2% to $2,044.60 per ounce, and copper futures climbed about 2.8% on the LME.
Investors await the US March CPI report, expecting higher headline inflation driven by recent energy price spikes.