Gold rises as investors seek safe havens amid Middle East conflict fears
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* Spot gold was up 0.1% at $3,371.30 an ounce, as of 0020 GMT. U.S. gold futures were steady at $3,387.20.
* The world braced on Sunday for Iran's response after the U.S. attacked key Iranian nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution. * In a televised address, U.S. President Donald Trump warned Iran against retaliating, stating that any response would trigger further attacks unless Iran agreed to pursue peace. * Tehran vowed retaliation, with missile exchanges between Iran and Israel continuing over the weekend. Israeli fighter jets struck military sites in western Iran, according to officials, while Iranian missiles wounded scores of people and flattened buildings in Tel Aviv.
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* Meanwhile, the close split at the U.S. Federal Reserve over whether to keep hedging against inflation risks or move forward faster with rate cuts came through on Friday in the first public comments from policymakers following a decision this week to hold borrowing costs steady for now.
* The Fed's latest Monetary Policy Report to Congress, released on Friday, said that U.S. inflation remains somewhat elevated and the labor market is solid. However, it suggested that the full impact of Trump's tariffs is likely yet to be felt, reiterating the Fed's stance that it can wait for greater clarity before making policy moves.
ADVERTISEMENT * On Friday, Trump once again floated the idea of firing Fed Chair Jerome Powell, whom he has long criticized for not lowering interest rates as much as he wants. * Elsewhere, spot silver was up 0.1% at $36.03 per ounce, platinum fell 0.3% to $1,260.78, while palladium edged down 0.1% to $1,043. DATA/EVENTS (GMT) 0030 Japan JibunBK Comp Op, SVC PMI, Mfg PMI Flash SA June 0715 France HCOB Mfg, Services, Composite Flash PMI June 0730 Germany HCOB Mfg, Services, Composite Flash PMI June 0800 EU HCOB Mfg, Services, Composite Flash PMI June 0830 UK Flash Composite, Manufacturing, Services PMI June 1345 US S&P Global Mfg, Services, Comp PMI Flash June 1400 US Existing Home Sales May.
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