To update prices and add details

June 4 (Reuters) - Gold prices rose more than 1 percent on Thursday, supported by a decline in oil prices and optimism about a possible end to the conflict with Iran, which put pressure on the dollar and caused bond yields to fall.

Gold rose 1.7 percent to $ 4,505.35 an ounce in spot trading by 13:05 GMT. U.S. gold futures for August delivery gained 1.5 percent to $ 4,532.80 .

Independent metals trader Tai Wong said reports of a ceasefire agreement between Israel and Lebanon put pressure on the dollar and bond yields, helping gold to stay above its key 200-day moving average.

Israel and Lebanon announced late Wednesday that they had agreed to a ceasefire, raising hopes for a deal between Washington and Tehran. Oil prices fell by more than 3 percent following the news, amid hopes for the reopening of the Strait of Hormuz.

The dollar fell 0.3 percent, making the dollar-denominated metal more accessible to holders of other currencies, while lower U.S. Treasury yields, including 10-year bonds, boosted gold's appeal.

Gold, a traditional safe-haven asset, reached a record high of $5,594.82 an ounce on January 29. It has lost 16 percent since the start of the conflict with Iran in late February. High interest rates negatively impact gold, which does not yield returns.

Investors are awaiting the U.S. jobs report for May, due on Friday. This data could shed light on the strength of the labor market, potentially guiding the Federal Reserve's (the U.S. central bank) future monetary policy.

As for other precious metals, silver rose 3.1 percent to $ 74.96 an ounce in spot trading, platinum gained 1.9 percent to $ 1,895.29 , and palladium climbed 1.6 percent to $1,322.01 .