Gold prices held steady above $4,690 per ounce, following a 3% increase on Wednesday, as optimism grew over a potential US-Iran peace deal to end the ongoing conflict. This development has contributed to a decline in oil prices, which in turn alleviates inflation fears. Analysts from TD Securities noted that while the headlines are positive, the situation is fragile, with unchanged demands from both the US and Iran. Federal Reserve Bank of Chicago President Austan Goolsbee cautioned that inflation has not cooled to the central bank's target of 2%, complicating the outlook for interest rates. Since the conflict began in late February, gold has seen an approximate 11% decline, driven by energy price shocks. Meanwhile, silver prices rose 0.1% to $77.44 after a notable jump earlier, indicating a broader market response to the news.