FUNDAMENTALS
* Spot gold climbed 1.1% at $3,261.79 an oz., as of 0028 GMT, after touching a report excessive of $3,266.65 per ounce earlier within the session. U.S. gold futures firmed 1.2% to $3,279.20.
* The greenback index eased 0.3% towards its rivals, making gold extra engaging for different foreign money holders.
* Gold, historically seen as a safe-haven investment throughout instances of geopolitical and financial uncertainty, and usually thriving in a low-interest-rate surroundings, has hit a number of report highs this 12 months.
* Federal Register filings on Monday confirmed the U.S. administration is advancing investigations into pharmaceutical and semiconductor imports in a bid to impose tariffs.
* Final week, Trump raised duties on China to 145%, prompting Beijing to jack up levies on U.S. items to 125%.
* Traders now await U.S. retail gross sales information due later within the day for insights into the financial system and the Federal Reserves financial coverage plans.
* “Rising dangers of a deeper recession, one other flip within the geopolitical panorama, disruptions in world provide chains, fears of rising inflation together with a altering fee outlook recommend that gold will stay on robust footing within the foreseeable future,” ANZ mentioned in a observe.
* ANZ raised its year-end gold price forecast to $3,600 per ounce and six-month forecast to $3,500.
* Spot silver rose 0.3% to $32.40 an oz., platinum fell 0.1% to $958.15 and palladium eased 0.1% to $970.25.
DATA/EVENTS (GMT) 0200 China City Funding(YTD) YY, Retail Gross sales YY, Unemp Charge City Space Mar 0200 China GDP YY Q1 0600 UK Core CPI, CPI YY Mar 0600 UK CPI Providers MM, YY Mar 0900 EU HICP Ultimate MM, YY Mar 1230 US Retail Gross sales MM Mar 1315 US Industrial Manufacturing MM Ma.
