Istanbul: Gold prices inched lower on Wednesday after hitting a one-month high earlier in the session, as the dollar regained some ground and prospects of another round of peace talks between the US and Iran lifted risk appetite. Gold: Spot gold was down 0.3% at $4,828.07 per ounce, after hitting its highest since March 18 earlier.

According to Qatar News Agency, US gold futures for June delivery remained steady at $4,851.30. Despite a slight pullback, gold prices are up 1.6% this week on renewed hopes of US-Iran peace.

Spot silver rose 0.8% to $80.15 per ounce, platinum gained 1.1% to $2,126.14, while palladium was down 0.1% at $1,585.60.