Bullion gained as much as 1.6 per cent on U.S. president's comments. Oil slipped further while equities rallied.

Gold extended a gain as the prospect of a US-Iran ceasefire deal eased some inflationary concerns that have weighed on bullion.

Gold prices saw a slight increase as optimism grew regarding a potential US-Iran peace agreement, easing concerns about prolonged high inflation and interest rates. While US…