Gold rises as prospects of U.S. tariffs lift safe-haven demand

Gold prices crept higher on Monday after Washington reiterated its stance on a deadline for a new round of U.S. tariffs on Chinese goods this weekend, supporting demand for safe havens.

FUNDAMENTALS

Spot gold was up 0.1% at $1,460.40 per ounce, as of 0158 GMT, after having slid 1% in the previous session, its biggest one-day drop in a month.

U.S. gold futures were flat at $1,464.90.

White House economic adviser Larry Kudlow said on Friday that the Dec. 15 deadline is still in place for a new round of U.S. tariffs on Chinese goods set to kick-in, but U.S. President Donald Trump likes where trade talks with China are going.

Cautious sentiment supported bullion, often seen as an alternative investment during times of political and financial uncertainty.

Completion of a "phase-one" deal between the world's two biggest economies had been initially expected in November, ahead of the new round of U.S. tariffs in mid-December, covering about $156 billion of Chinese imports.

Palladium shed 0.2% to $1,873.74 per ounce, having hit a record peak at $1,880.65 in the previous session.

Silver was up 0.1% at $16.58 per ounce, after touching its lowest since early August in the last session, while platinum eased 0.4% to $892.30.

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Physical Rubber prices remain unchanged on Monday

Physical Rubber prices remain unchanged on Monday due to lack of genuine buyers or sellers in the local trading houses to set a definite trend in the market, while expectation of a fall in global output due to a severe pest attack in major producing countries such as Thailand, Indonesia, and Malaysia limited the downside. 

 

Spot prices for RSS-4 and RSS-5 variety closed unchanged at Rs 130.50/ kg and Rs 127.50/ kg respectively.

In the futures market, December delivery gained to Rs 133.49 compared to its previous closing of Rs 133.07, while January delivery was at Rs 134.50 compared to its previous close of Rs 134.35 on the Indian Commodity Exchange Limited (ICEX).

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