-- (Updates prices.)
Gold was steady early on Friday as the dollar and yields eased following a report that Iran is ready to resume negotiations with the United States to end the war.
Gold for May delivery was last seen up US$12.80 to US$4,76.80 per ounce.
Bloomberg News reported Iranian Foreign Minister Abbas Araghchi and a team of negotiators are expected to arrive in Islamabad late on Friday. The Wall Street Journal said U.S negotiators Steve Witkoff and Jared Kushner will travel the Pakistan capital for the talks.
A deal between the two nations would likely lower oil prices and ease fears the supply shock that followed the closure of the Strait of Hormuz would hike inflation and force central banks to raise interest rates. The threat of higher rates has pushed investors to the dollar and bonds, leaving gold rangebound. The metal has traded within a US$200 band since the start of the conflict.
The dollar was lower, with the ICE dollar index last seen down 0.2 points to 98.57. Treasury yields were down, with the yield on the U.S. two-year note down 5.7 basis points to 3.789%, while the 10-year note was paying 4.312%, down 1.6 points.