Gold prices rose on Tuesday, amid indications of diplomatic efforts to ease the conflict between the United States​ and Iran, as investors assess the risk of a rise in oil prices after Yemen's Houthis threatened to close Yemeni ports and airports and impose a naval blockade on neighboring countries.

Spot gold rose 0.5% to $4,023.56 per ounce. US gold futures for August delivery rose 0.3% to $4,028.

According to Reuters news agency, oil prices fell on Tuesday as markets balanced reports of mediation efforts between the United ⁠States and Iran on one hand, and new attacks exchanged between the two sides and Houthi threats in Yemen on the other.

As for other precious metals, spot silver rose 0.9% to $56.93 per ounce, platinum fell 0.2% to $1,591.22, and palladium rose 0.3% to $1,256.68.

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