Rabat: Gold prices dipped slightly today, retreating from a one-month peak reached earlier in the session, as the dollar regained some strength and prospects of a fresh round of peace negotiations between the United States and Iran boosted risk appetite. Spot gold fell 0.3 percent to $4,828.07 per ounce, having earlier touched its highest level since March 18. US gold futures for June delivery held steady at $4,851.30.

According to Oman News Agency, despite the modest pullback, gold remains up 1.6 percent for the week, buoyed by renewed optimism surrounding potential US-Iran peace talks. The anticipation of diplomatic progress between the two nations has influenced market dynamics, affecting investor decisions and risk assessments.

Among other precious metals, spot silver rose 0.8 percent to $80.15 per ounce, platinum gained 1.1 percent to $2,126.14, while palladium edged down 0.1 percent to $1,585.60. The movements in these metals reflect varying investor sentiments and reactions to geopolitical developments and currency fluctuations.