Gold rises as energy prices retreat on Iran deal hopes

Gold prices advanced while crude oil and broader energy markets retreated on Tuesday as investors priced in growing optimism for a diplomatic resolution to the conflict between Washington and Tehran, according to early trading data.

Precious metals gain

The ounce price of gold rose by 0.6% to $4,340 as of 0610GMT while silver gained 0.4% to $68.4, according to market figures. Precious metals traditionally serve as safe-haven assets during periods of geopolitical uncertainty, though Tuesday's gains came as diplomatic prospects appeared to improve.

Energy prices slide

Brent crude futures fell by 1.2% to $93.2 per barrel while West Texas Intermediate (WTI) dropped 1.5% to $89.9 during the same period. The TTF Gas index — a benchmark indicator for European natural gas — declined by 1% to €49.9 per megawatt-hour, while heating oil prices slipped 0.5% to $3.5 per gallon.

Diplomatic efforts continue

Negotiations between the United States and Iran remain ongoing despite recent escalations, President Donald Trump said early Tuesday, just hours after Tehran and Tel Aviv agreed to halt attacks on one another. The latest diplomatic push follows weeks of violence that began on February 28, when Washington and Jerusalem launched military strikes against Iranian targets, disrupting commercial shipping through the strategic Strait of Hormuz.