At 22:12 ET (02:12 GMT), spot gold (XAU/USD) rose 0.7% to $4,398.92 an ounce, while gold futures gained 0.4% to $4,458.62. Gold has remained supported near a two-month high as markets assess conflicting signals over potential U.S.-Iran negotiations to reopen the Strait of Hormuz. For gold, rising oil prices remain important because higher energy costs could fuel inflation and encourage the Federal Reserve to maintain elevated interest rates. Higher rates generally increase the opportunity cost of holding non-yielding gold. Investors are now awaiting the latest U.S. consumer price index (CPI), followed by producer price data on Thursday.