Gold prices are stable amid uncertainty surrounding US-Iran peace negotiations.
June 2 (Reuters) - Gold prices were steady on Tuesday as investors assessed a partial ceasefire between Hezbollah and Israel and awaited further details on negotiations between the United States and Iran, amid growing concerns about inflation and rising interest rates.
Spot gold was steady at $4,484.49 an ounce at 00:48 GMT. U.S. gold futures rose 0.2 percent to $4,514.30.
Lebanon announced a partial ceasefire between Hezbollah and Israel on Monday, in what could be seen as a limited de-escalation of the conflict that has killed thousands and fueled a wider war with Iran.
Iranian state media reported earlier on Monday that Tehran had halted indirect negotiations with the United States and might end the ceasefire that has largely held since early April, due to the war in Lebanon.
On the other hand, US President Donald Trump said that talks with Iran are continuing "at a rapid pace".
Investors are now awaiting US non-farm payrolls data and the employment report, both due later this week, to assess the strength of the labor market amid growing concerns about inflation due to the conflict in the Middle East.
Attention is also focused on statements from Federal Reserve (US central bank) officials to assess the future course of monetary policy.
Meanwhile, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings of the precious metal fell 0.3 percent to 938.03 tons on Friday.
As for other precious metals, silver rose 0.2 percent to $74.92 an ounce in spot trading, platinum climbed 0.3 percent to $1,928.65, while palladium fell 0.2 percent to $1,359.25.
