Doha: Gold prices firmed on Wednesday as lower oil prices, following a US extension of a ceasefire with Iran, eased fears of an inflation spike and prolonged high interest rates. Spot gold rose 0.9% to $4,755.11 per ounce, as of 0225 GMT, after falling to its lowest level since April 13 on Tuesday. US gold futures for June delivery gained 1.1% to $4,772.90.

According to Qatar News Agency, spot silver rose 1.5% to $77.84 per ounce, platinum gained 1.5% to $2,067.25, and palladium was up 1.8% at $1,560.31. President Donald Trump announced Tuesday night that the US had been asked to hold its attack on Iran until the country's leaders and representatives could present a unified proposal. This decision came at the request of Pakistan, indicating a diplomatic effort to stabilize the situation.