Precious metal stocks and ETFs jumped in morning trading. ProShares Ultra Silver rose 9%; Hycroft Mining rose 7%; US Gold Corp. rose 6%; Coeur Mining and iShares Silver Trust rose 5%; Endeavour Silver and First Majestic Silver rose 4%; Hecla Mining, Harmony Gold, Fortuna Silver Mines, Newmont, Pan American Silver, Gold Fields, Anglogold Ashanti, and ProShares Ultra Gold rose 3%; Barrick Mining, Agnico Eagle Mines, Eldorado, and Kinross rose 2%; SPDR Gold ETF and Gold Trust Ishares rose 1%.

Gold prices gained more than 1% on Tuesday as the U.S. dollar ‌weakened, while hopes of a resumption in U.S.-Iran talks also supported prices by easing inflation concerns.

Spot gold was up 1.1% at $4,791.65 per ounce by 9:50 a.m. ET (1350 GMT). U.S. gold futures rose ​1% to $4,815.40.

Negotiating teams from the U.S. and Iran could return to Islamabad this ​week to resume talks to end the war, sources told Reuters, after ⁠the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports.

Among other metals, spot silver rose 3.3% to $78.09 per ounce, platinum gained 0.1% ​to $2,072.13, while palladium inched 1% lower at $1,558.80.