Gold prices rose toward $4,800 an ounce on Tuesday as the U.S. dollar faltered and U.S. Treasury yields dipped on renewed optimism for a negotiated end to the U.S.-Iran war.
Spot gold jumped 0.7 percent to $4,775.57 an ounce while U.S. gold futures for June delivery were up 0.6 percent at $4,796.62.
The dollar weakened to hit a six-week low and government bond yields dipped as the U.S. blockade of Iran's ports officially came into force and reports suggested that the U.S. and Iran are arranging a second round of negotiations to end their conflict.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.