Gold rises with US–China talks, MidEast conflict in focus
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.
* 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
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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