Doha: Gold prices rose more than 1% on Tuesday, rebounding from a one-week low, supported by a weaker dollar and easing inflation concerns as oil prices fell on optimism over de-escalation with Iran. Spot gold climbed 1.1% to $4,788.76 per ounce, while US gold futures for June delivery advanced 1% to $4,812.80.

According to Qatar News Agency, bullion had retreated in the prior session to its lowest level in nearly a week, pressured by escalating geopolitical tensions and reports that the United States was preparing potential measures targeting Iranian ports, prompting strong reactions from Tehran and raising concerns over further escalation. The US dollar, meanwhile, fell to its weakest level in more than a month, making gold more attractive to holders of other currencies.

Among other precious metals, spot silver jumped 3.2% to $77.98 per ounce, platinum gained 0.7% to $2,084.90, and palladium rose 0.6% to $1,583.82.