Gold prices rise nearly 1% with focus on US-Iran talks

Gold prices rebounded from recent losses on Tuesday, rising nearly 1% as markets remained uncertain over the status of U.S.-Iran negotiations.

The yellow metal had fallen sharply in the prior session after a report said Iran had halted peace negotiations with the U.S. in response to increased Israeli hostilities against Lebanon.

The development sparked heightened concerns over a prolonged war in the Middle East.

Spot gold rose 0.9% to $4,524.51 an ounce by 01:43 ET (05:43 GMT), while gold futures rose 1.1% to $4,553.70/oz.