The morning gold market in Asia rose, boosted by hopes of more talks between the US and Iran.

Asian markets saw an increase in gold early in the session as investors hope for more talks between the United States and Iran. Although the two countries have not yet reached an agreement on a new round of negotiations, White House Press Secretary Leavitt said on Wednesday that dialogue with Iran is "productive and ongoing." Zaheer Anwari, co-founder and CEO of The Revacy Fund, said in an email that a potential agreement between the US and Iran is a key variable affecting the movement of gold. Anwari said, "If tensions ease and oil prices drop, short-term inflation pressures may ease and alleviate some upward pressure on yields, potentially providing support for gold." Spot gold rose 0.6% to $4,819.43 per ounce.