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Gold prices climbed on Wednesday as declining oil prices helped temper worries about persistent inflation, following reports that Washington is working on a proposal to end the Middle East conflict.
Spot gold prices were last up 2.56% at $4,588 per ounce, while gold futures
for April delivery were last seen over 4% higher at $4,597.7 per ounce.
U.S. President Donald Trump said Tuesday the U.S. and Iran are “in negotiations right now” and suggested Tehran is eager to make a peace deal, even as the Islamic Republic has denied it is in direct talks with Washington.
