(Updates for EMEA morning session)

* US will indefinitely extend ceasefire with Iran

* US to continue blockade of Iran trade

* Kevin Warsh says he made no rate-cut promises to Trump

By Pablo Sinha

April 22 (Reuters) - Gold prices rose around 1% on

Wednesday as easing market stress reduced liquidation pressure

on the metal and weighed on the dollar after U.S. President

Donald Trump extended the ceasefire with Iran, giving a boost to

riskier assets.

Spot gold was up 0.9% at $4,756.10 per ounce by 0953

GMT. U.S. gold futures for June delivery gained 1.2% to

$4,774.60.

"Gold seems to be rallying with pretty much all the risk

assets right now," said Nitesh Shah, commodity strategist at

WisdomTree. "When other assets come under pressure, gold has

been liquidated, and when that liquidation pressure eases, gold

has now got a chance to rise."

Stocks gained and the dollar eased, while oil prices hovered

just below $100 a barrel as the Strait of Hormuz remained

closed.

Trump said he would indefinitely extend the ceasefire with Iran

to allow for further peace talks, although it was not clear on

Wednesday if Iran or Israel, the United States' ally in the

two-month-old war, would agree.

The president also said he would continue the U.S. Navy's

blockade of Iran's trade by sea, something that is considered an

act of war by Tehran.

Higher energy prices can push inflation higher. While gold

is traditionally considered a hedge against inflation, high

interest rates make yield-bearing assets more attractive,

weighing on bullion's appeal.

Federal Reserve chief nominee Kevin Warsh said on Tuesday he had

made no promises to Trump about cutting interest rates, as he

tried to assure U.S. senators considering his confirmation to

lead the U.S. central bank that he would act independently of

the White House while pursuing broad reforms.

"We continue to look for more Fed rate cuts over the next 12

months...we retain our constructive outlook for gold, with a

year-end target of $5,900/oz, driven by lower interest rates and

a weaker U.S. dollar," said UBS analyst Giovanni Staunovo.

Spot silver rose 1.6% to $77.94 per ounce, platinum

gained 1.6% to $2,069.94, and palladium was up

2.3% at $1,568.30.