Spot gold climbed 2.1% to $4,840.09/oz and futures rose 2% to $4,864.67/oz on Tuesday.
The rally was driven by a weaker U.S. dollar after March U.S. producer price index rose only 0.5% MoM, below expectations.
Geopolitical optimism from ongoing U.S.-Iran ceasefire talks and potential second round in Pakistan further boosted risk appetite for gold.
Commentators noted core inflation remains steady while energy prices drive PPI upside, keeping gold attractive amid oil‑price shocks.