Singapore, May 06 (QNA) - Gold prices rose more than 1% on Wednesday, buoyed by a weaker dollar, while softer oil prices eased fears of inflation and higher-for-longer interest rates, amid hopes of a US-Iran peace deal.

Spot gold was up 1.7% at $4,633.31 per ounce, while US gold futures for June delivery rose 1.7% to $4,643.20.

Spot silver rose 2.7% to $74.80 per ounce, platinum gained 1.7% to $1,986.25, and palladium was up 2.1% at $1,516.44. (QNA)