​​​​​ISTANBUL

Gold prices rebounded Wednesday, exceeding $5,000 again, after dipping on positive developments about US-Iran talks.

Spot gold increased more than 2.5% as of 1540GMT to $5,001 per ounce, as some reports suggest the Trump administration is preparing for potential military action against Iran.

One White House advisor said there is a "90% chance we see kinetic action in the next few weeks," according to the reports.

Gold fell Tuesday to around $4,900 after Iran said it reached "guiding principles" with the US on nuclear talks.

Silver also saw an increase of 5.7% to $77.7 per ounce.

Gold surged 13.2% in January, seeing its best monthly performance since September 1999 amid global geopolitical risks. And in February, prices remained mostly flat, due to the easing geopolitical tensions, and the US Fed's decision to hold interest rates steady.

Gold started 2026 at $4,313 and rose to a record of $5,598 on Jan. 29.

Meanwhile, investors await minutes from the US Federal Reserve's January 16-17 meeting on Wednesday, seeking clues for the path ahead for monetary policy.​​​​​​​