Gold rises as investors monitor Middle East developments

Gold futures rose 0.9% to $4,547.40 an ounce, while silver for July delivery gained 1.2%, as the dollar index held near 99.15 points

Gold and silver prices rose on Tuesday, as investors focused on developments in the Middle East and assessed US labor market data.

This came after Iranian media reported that Tehran is considering a proposal for an agreement with the US to end the war, despite no direct contact with Washington in recent days, following comments from US President Donald Trump indicating that negotiations are still ongoing.

Financial markets are also awaiting US private-sector employment data from ADP on Wednesday, followed by the official monthly jobs report on Friday, for further signals on the Federal Reserve’s policy outlook.

In a related development, data released today showed that US job openings rose more than expected in April, despite a decline in hiring rates, likely reflecting ongoing economic uncertainty.