LONDON – The price of gold in spot trading rose by 0.6 percent to $4,768.19 an ounce, after hitting its lowest level since April 7 in the previous session.
US gold futures for June delivery also rose 0.5 percent to $4,790.70 an ounce.
In contrast, oil prices fell below $100 a barrel, amid signs that dialogue between Washington and Tehran might resume, easing concerns about supply disruptions related to the situation in the Strait of Hormuz.
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The dollar also stabilized near its lowest level in more than a month, making gold less expensive for holders of other currencies.
In other precious metals markets, silver rose 0.9 percent, platinum climbed 0.1 percent, and palladium gained 0.2 percent.
