FUNDAMENTALS
* Spot gold rose 0.5% to $4,757.59 per ounce by 0050 GMT.
* U.S. gold futures for June delivery gained 0.8% to $4,768.20.
* U.S. President Donald Trump said on Monday that a ceasefire with Iran was “on life support” after Tehran’s response to a U.S. proposal to end the war made clear the two sides were still far apart on a number of issues.
* Markets are also watching Trump’s two-day visit to China this week, where he is set to meet Xi to discuss a wide variety of topics including the current conflict in the Middle East. * Oil prices rose in early Asian trade as negotiations to end the war between the United States and Iran appeared fragile, keeping supply concerns alive. [O/R] * Investors are looking out for the U.S. Consumer Price Index (CPI) data, due later in the day, to assess the Federal Reserve’s interest rate path moving forward. * Freeport-McMoRan said on Monday it still expects Indonesia’s Grasberg copper and gold mine to resume full production by the end of 2027, reiterating a plan outlined last month and pushing back on reports that the restart could drag into 2028.
* Spot silver rose 0.2% to $86.27 per ounce, platinum slid 0.2% to $2,127, and palladium was down 0.2% at $1,506.34.
DATA/EVENTS (GMT) 0600 Germany HCIP Final YY Apr
1230 US CPI, Core CPI MM, SA Apr
1230 US CPI, Core CPI YY, NSA Apr
1230 US CPI Wage Earner Apr
