Gold trading range for the day is 31851-32501

Gold trading range for the day is 31851-32501.

Gold climbed as investors scurried into the safe-haven bullion following Washington's shock threat of tariffs on Mexico, which heightened fears of a global downturn.

The dollar briefly trimmed its losses as stronger-than-forecast data on U.S. consumer spending and income in April tempered some worries about a slowing U.S. economy.

Gold premiums in top consumer China rose as investors bought the metal as a safe-haven due to rising trade tensions with the United States.

U.S. interest rate futures rose as traders increased their bets on more than one rate cut from the Fed.

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