Gold rises amid hopes for US.-Iran deal

0035 GMT — Gold advances in Asian trade. Prices are likely supported by a broad pullback in global bond yields and a softer dollar as markets weigh the prospect of renewed U.S.-Iran talks, says Tickmill’s Joseph Dahrieh in commentary. “Optimism around a possible truce could ease concerns over energy-driven inflation, reducing the perceived need for the Federal Reserve to tighten monetary policy aggressively,” he says. A higher interest-rate environment typically weighs on nonyielding assets such as gold. XS.com’s Antonio Di Giacomo expects gold prices to increase gradually from a technical perspective, as long as it maintains above $4,000 a troy ounce, with $4,100 as the immediate resistance level. Spot gold gains 0.5% to $4,094.89 an ounce. ([email protected])