Spot gold rose 1.5% to $4,577.12 per ounce and gold futures climbed 1.2% to $4,612.24/oz in early Asian trade.
Spot silver increased 3.8% to $78.3865/oz and spot platinum rose 2% to $1,965.45/oz.
The rally was driven by a sharp decline in the U.S. dollar and lower U.S. Treasury yields.
President Donald Trump indicated that a framework for a U.S.–Iran peace deal had been “largely negotiated,” reviving expectations that the cease‑fire would be extended and the Strait of Hormuz reopened.
Although Trump later said there was no hurry and a naval blockade would remain, the prospect of reduced geopolitical tension eased market concerns about energy‑driven inflation, which had previously pressured gold.
The combination of softer dollar, falling yields and diminished inflation worries lifted sentiment across precious metals.
