Gold prices were mixed on Wednesday, but spot prices rose as the U.S. dollar weakened.
This came amid easing global bond yields and a boost to risk sentiment after President Trump said the U.S. was in the final stages of peace talks with Iran.
Spot gold was up 1.2% to $4,536.56/oz, while gold futures slipped 0.4% to $4,537.90/oz.
Among other precious metals, spot silver gained 3.2% to $76.0220/oz, while spot platinum declined 0.7% to $1,964.35/oz.
The yellow metal and the greenback have been impacted by a steep global bond sell-off sparked by expectations of interest rate hikes.
Higher rates generally bode poorly for non-yielding assets like gold, and also strengthen the dollar.
Analyst David Morrison noted that investors have been buying the dollar as bond yields rise, reducing demand for gold.
Bond sell-off eased on Wednesday, sending U.S. Treasury yields sliding.
Traders are now awaiting the minutes of the Fed's April meeting.
Fed Chair Jerome Powell's term ended last Friday, and his successor Kevin Warsh is expected to be sworn in soon.
Trump said the U.S. is in the final stages of talks with Iran, boosting hopes for peace.
