09:25 AM EDT, 04/06/2026 (MT Newswires) -- Gold edged higher early Monday as the dollar eased following reports the United States is offering Iran a 45-day ceasefire in its war against the Persian Gulf country

Gold for May delivery was last seen up $12.80 to US$4,692.50 per ounce.

The Wall Street Journal reported the United States, in indirect talks, offered the ceasefire proposal to Iran in order to facilitate further talks to end the war provided Iran agrees to reopen the Strait of Hormuz. The offer, which has not been accepted by Iran, comes after a profane heavy social-media post from U.S. President Trump over the weekend, threatening to attack Iranian power plants and bridges beginning on Tuesday.

Gold has remained well below its Jan. 29 record high despite the conflict, as the threat of rising inflation due to higher energy prices will force central banks to raise interest rates has checked gains for the metal.

"The potential for interest rates and real (inflation-adjusted) yields to stay higher for longer will likely be another headwind for gold," the Wells Fargo Investment Institute noted as it cut the midpoint of its 2026 gold price forecast to US$5,900 from US$$6,200.

The dollar moved lower following the news, with the ICE dollar index last seen down 0.15 points to 99.88. Treasury yields rose, with the U.S. two-year note last seen paying 3.862%, up 2.9 basis points, while the yield on the 10-year note was up 2.2 points to 4.342%.