Gold supported by trade tensions ahead of US inflation data
Spot gold was up 0.5% at $3,360.35 per ounce, as of 0436 GMT. U.S. gold futures gained 0.3% at $3,369.50.
"Gold has shown in the past that it is an asset of choice when tariff tensions are ratcheted up, and the precious metal's move towards $3,350 is evidence of this pattern playing out again," KCM Trade Chief Market Analyst Tim Waterer said.
U.S. President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1 if they failed to reach a trade deal.
Meanwhile, the U.S. consumer price data for June is due at 1230 GMT on Tuesday.
Economists polled by Reuters expect headline inflation to increase to 2.7% on an annual basis, up from 2.4% in the prior month. Core inflation is expected to rise to 3.0%, from 2.8%.
Elsewhere, spot silver was steady at $38.15 per ounce, after hitting its highest level since September 2011 on Monday.
Platinum rose 0.8% to $1,374 and palladium edged 0.2% higher to $1,196.10. Reuters
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