India, July 21 -- Gold prices remained above the crucial $4,000 per ounce level on Tuesday as investors assessed developments surrounding US-Iran diplomacy, oil market movements and expectations around the Federal Reserve's future interest rate decisions.

According to Reuters, gold prices gained as hopes of diplomatic progress between Washington and Tehran temporarily reduced pressure on oil markets, while ongoing geopolitical uncertainty continued to support demand for safe-haven assets. The precious metal market is being closely monitored by investors as movements in crude oil prices, the US dollar and inflation expectations continue to influence bullion demand.

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