Gold held onto its gains amid optimism that the United States and Iran are seeking a negotiated settlement to their trade war, easing inflationary concerns stemming from an energy supply shock. The precious metal settled near $4,850 an ounce, after rising as much as 0.6% earlier in the session. This followed a surge of more than 2% in the previous session, as Washington and Tehran sought to arrange a second round of peace talks in the coming days, according to people familiar with the matter. US President Donald Trump said negotiations could resume "within the next couple of days," according to the New York Post.
