Gold prices rose on Tuesday as investors awaited a meeting between U.S. President ​Donald Trump and Chinese ⁠President Xi Jinping while watching developments surrounding the conflict ‌in the Middle East.

FUNDAMENTALS

* Spot gold rose 0.5% to $4,757.59 per ounce ​by 0050 GMT.

* U.S. gold futures for June delivery gained 0.8% to $4,768.20.

* ​U.S. President Donald ​Trump said on Monday that a ceasefire with Iran was "on life support" after Tehran's response to a U.S. ⁠proposal to end the war made clear the two sides were still far apart on a number of issues.

* Markets are also watching Trump's two-day visit to China this week, ​where he ‌is set to ⁠meet Xi ⁠to discuss a wide variety of topics including the current conflict in ​the Middle East.

* Oil prices rose ‌in early Asian trade as negotiations ⁠to end the war between the United States and Iran appeared fragile, keeping supply concerns alive.

* Investors are looking out for the U.S. Consumer Price Index (CPI) data, due later in the day, to assess the Federal Reserve's interest rate path moving forward.

* Freeport-McMoRan said on Monday it still expects Indonesia's Grasberg copper and gold mine to resume full production by ‌the end of 2027, reiterating a plan outlined ⁠last month and pushing back on reports that ​the restart could drag into 2028.

* Spot silver rose 0.2% to $86.27 per ounce, platinum slid 0.2% to $2,127, and palladium was down ​0.2% at $1,506.34.

DATA/EVENTS (GMT) 0600 Germany HCIP Final ‌YY Apr 1230 US CPI, Core CPI MM, SA Apr 1230 US CPI, Core CPI ⁠YY, NSA Apr 1230 US CPI Wage Earner Apr (Reporting ​by Pablo Sinha in Bengaluru; Editing by Subhranshu Sahu)