Gold rises after America extends the ceasefire with Iran

Gold prices rose on Wednesday, as oil prices fell, following the US extension of the ceasefire with Iran, which eased fears of high inflation and continued high interest rates.

The spot gold price rose 0.9 percent to $4,755.11 per ounce, by 02:25 GMT, after falling to its lowest level since April 13 on Tuesday.

US gold futures for June delivery rose 1.1 percent to $4,772.90.

US President Donald Trump announced, hours before the end of the ceasefire with Iran, that he would extend it indefinitely to allow room for more peace talks.