Gold prices steady as markets await progress in Middle East talks

Gold prices stabilized as traders weighed signs of progress in diplomatic efforts in the Middle East.

According to Report, trading data showed that gold futures rose above $4,200 per troy ounce for the first time since July 6, gaining more than 1%.

Silver also advanced 2.1% to $61.5 per troy ounce.

At the same time, markets are pricing in a 57% probability that the US Federal Reserve will raise interest rates at its September 15–16 policy meeting.