India, Sept. 25 -- Gold prices rose toward $4,300 an ounce on Friday as a sell-off in government debt eased and oil prices retreated from recent highs following reports that Iran has submitted a proposal to the United States to end their war and reopen the Strait of Hormuz within seven days.
Spot gold rose half a percent to $4,296.21 an ounce while U.S. gold futures were up 0.8 percent at $4,330.34.
The proposal was delivered to U.S. officials when the sides met through mediators this week, the Washington Post quoted Iranian Foreign Minister Abbas Araghchi as saying on the sidelines of the UN General Assembly session in New York.
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