Spot gold remained flat at $4,711 per ounce while futures slipped 0.3% to $4,725.94 amid a steady dollar.
Iran proposed reopening the Strait of Hormuz, postponing nuclear talks, sparking hopes of de‑escalation but oil prices rose sharply.
Markets await the Fed meeting, expected to keep rates unchanged; Chair Powell’s term ends May 15, with Kevin Warsh slated as successor.