Gold rebounds from one-month low on softer dollar

Gold prices rebounded on Thursday from a one-month low hit the day before, helped by a softer US dollar, although elevated oil prices ​kept fears alive of inflation and higher-for-longer interest rates. Fundamentals Spot gold ‌was up 0.6% at $4,566.73 per ounce, as of 0105 GMT, after falling to its lowest level since March 31 in the previous session. US gold futures for June ​delivery rose 0.4% to $4,578.50. The US dollar eased, making greenback-priced bullion ​cheaper for other currency holders. Brent crude oil hovered above $119 ⁠a barrel, as deadlocked US-Iran negotiations made investors more concerned about prolonged ​disruptions to Middle Eastern supply. Donald Trump discussed how to mitigate the impact ​of a possible months-long US blockade of Iran’s ports with oil companies, a White House official said on Wednesday, as the US president urged Tehran to “get smart soon” and sign ​a deal.