Gold Prices Rise Amid US-Iran Talks Uncertainty

Gold prices rose slightly on Tuesday as investors weighed mixed signals on potential U.S.-Iran talks and awaited key labor market reports from the United States. The Federal Reserve's interest-rate trajectory is a major concern, with traders pricing in a 65% chance of a rate increase in September.

Ajay Kedia, director at Mumbai-based Kedia Commodities, noted that gold is currently in a consolidation phase. If job market weakness leads to pressure on the U.S. dollar, it could boost gold prices.

U.S. President Donald Trump said talks with Iran were underway, warning it was a 'last chance' for Tehran to sign a good deal to end the five-month-old war. However, Iran denied any negotiations were being held or planned.