Gold prices crept higher on Thursday as persistent weakness in the dollar benefited metal markets, with focus remaining on more potential ceasefire talks between the U.S. and Iran.

The gold metal remained close to a near one-month high notched on Wednesday, as hopes for a prolonged de-escalation in the Iran war boosted risk appetite and cooled some inflation concerns.

Spot gold gained 0.4% to $4,808.42 an ounce, while gold futures added 0.1% to $4,828.71/oz by 06:14 ET (10:14 GMT). 

Other precious metals also advanced. Spot silver ticked up 0.6% to $79.4055/oz and spot platinum rose 1.2% to $2,138.32/oz. 

Iran ceasefire extension hopes 

Washington and Tehran have agreed in principle to hold fresh talks, after an initial round of negotiations last weekend in Pakistan did not yield an immediate deal, according to the Wall Street Journal. Citing officials familiar with the matter, the paper said both sides have not set a time or venue for the meeting.

A fragile ceasefire between the two is due to expire on April 21. 

U.S. President Donald Trump has also said talks between Israel and Lebanon will take place later today, but did not offer further details. Israel has said the discussions will take place, although the Associated Press reported that Lebanon was unaware of the talks.

Still, signs of friction in the Middle East remained, most notably over an ongoing U.S. naval blockade of Iranian ports. A top military commander in Iran has warned Washington not to continue the blockade, which U.S. Central Command has claimed has not been evaded by any Iranian-linked commercial ships and oil tankers.

Against this backdrop, oil prices have stabilized below $100 a barrel, but remain well above pre-war levels. A surge in crude to roughly $120 a barrel after the outbreak of the war in late February fueled concerns over a possible spike in inflationary pressures in countries around the world.

Bets that central banks, including the Federal Reserve in the U.S., could respond by hiking interest rates in turn grew, denting the appeal of non-yielding assets like gold. However, optimism around peace negotiations have helped to moderate these wagers in recent days.

Spot gold has subsequently edged up by 0.9% over the past one-week period.

At the same time, the U.S. dollar, which was viewed throughout March as an investment bastion thanks to perceptions that the U.S. -- a major energy exporter -- was insulated from oil supply disruptions in the Strait of Hormuz, has softened. This could make dollar-denominated gold more enticing for overseas buyers.