Gold is largely steady as investors await US Federal Reserve Chair Jerome Powell’s comments to assess the Iran war’s impact on the economy amid stalled peace talks, according to Reuters.

Spot gold was up 0.1 per cent at $4,598.45 per ounce, as of 00:55 GMT (5:55am PKT), after falling to its lowest level since April 2 in the previous session. US gold futures for June delivery rose 0.1pc to $4,612.10.