Gold Rises Amid Likely Safe-Haven Demand
2346 GMT — Gold rises in the early Asian session amid likely safe-haven demand. President Trump on Monday renewed his call for the Fed to immediately cut rates in a post on social media, saying inflation is trending downward and the economy could slow 'unless Mr. Too Late, a major loser, lowers interest rates, NOW.' Trump's push against Fed Chair Powell could fuel more caution on international markets and a flight toward safe-haven instruments and away from U.S. assets, says Konstantinos Chrysikos, head of Customer Relationship Management at Kudotrade, in an email. Spot gold is 0.5% higher at $3,440.04/oz after touching a record intraday high of $3,444.41/oz earlier, ICE data show. (ronnie.harui@wsj.com)
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