Gold rose in the early session in Asia, supported by the weakening of the US dollar.

Gold rose in early trading, boosted by the weakening of the US dollar, which was attributed to signs of progress in resolving the conflict in the Middle East. Spot gold rose by 0.8% to $4,506.53 per ounce. US President Trump stated that Iranians are hoping to "make a deal". The media reported that mediators from Turkey, Egypt, and Pakistan are working to arrange a meeting between US and Iranian officials in the next 48 hours, although significant differences remain between the two sides. The weakening of the US dollar has made precious metals priced in dollars more attractive to holders of non-dollar currencies.