Gold rate today, April 12 -- Safe-haven yellow metal has witnessed a significant fall over 9% since the beginning of US-Iran war on February 28. As the talks between both the countries failed without a deal, market analysts expect further near-term downside in gold prices.

However, the precious metal saw a weekly gain of over 2% as the market anticipated a positive update on US-Iran truce talks.

On Friday, spot gold held steady at $4,761.79 per ounce, while U.S. gold futures closed 0.6% lower at $4,787.40.

Talks between Iran and the United States held in Islamabad ended without an agreement, with a senior Iranian official blaming "excessive demands" from the American side.

Delegations from both countries met in Islamabad on Saturday, ...