Gold prices firmed on ‌Tuesday after an interim U.S.–Iran deal to end the war in the Persian Gulf eased bets of a ​U.S. rate hike, with investors awaiting details on the agreement and the Federal Reserve's policy meeting.

Spot gold ​was up ​0.8% at $4,341.39 per ounce at 0851 GMT. Prices have recovered about 8% from a near six-month low hit last week.

U.S. gold futures delivery added 0.3% to $4,363.00.

U.S. President ⁠Donald Trump on Monday said an agreement with Iran has been signed and that the text of the deal would be released sometime after a formal signing on Friday, adding that the Strait of Hormuz would also be fully open.

"Reports around a peace deal have ​pushed oil prices ‌lower and the worst ⁠inflationary fears seem ⁠to be dissipating at this stage," ActivTrades analyst Ricardo Evangelista said.

"Investors are also reacting by trimming down ​expectations of interest rate hikes from central banks and this is ‌positive for gold."

Markets have pared back expectations for a ⁠Fed rate hike in December to 56% from around 70% following the peace deal, according to the CME FedWatch tool.

During periods of elevated interest rates, investors tend to favor interest-bearing assets over non-yielding bullion.

Focus now shifts to a series of central bank meetings this week, including the Fed's decision on Wednesday, the first under new Chair Kevin Warsh.

"Investors will be paying close attention to the developments surrounding the FOMC meeting and see if there are any hints of a shift back towards a more dovish stance. This could create more ‌upside for gold prices," Evangelista said.

A record 45% of the ⁠reserve managers surveyed by the World Gold Council, expect to ​increase their own institutions' gold holdings over the next 12 months, the international organization said.

Spot silver rose 0.5% to $70.37 per ounce.

India's silver imports plunged to their lowest level in over three years in ​May, data ‌showed, after the world's largest consumer of the metal tightened curbs on ⁠imports.

Platinum gained 1.5% to $1,793.78, and palladium firmed ​0.5% to $1,354.99.