FUNDAMENTALS
* Spot gold fell 0.3% to $3,332.99 an ounce as of 0034 GMT. U.S. gold futures lost 0.1% to $3,343.20.
* U.S. Treasury Secretary Scott Bessent said on Monday that several top trading partners had made “very good” proposals to avoid U.S. tariffs, with India likely to be among the first to finalize a deal.
* China’s recent moves to exempt certain U.S. goods from its retaliatory tariffs showed a willingness to de-escalate tensions between the world’s two largest economies, Bessent added.
* Meanwhile, risks are high that the global economy will slip into recession this year, according to a majority of economists in a Reuters poll, with many saying U.S. President Donald Trump’s tariffs have damaged business sentiment.
* Bullion, traditionally seen as a hedge against political and financial instability, rose to an all-time high of $3,500.05/oz last week due to elevated uncertainties.
* Investors will keep a tab on a series of economic data this week, with the U.S. job openings report due later in the day, Personal Consumption Expenditures on Wednesday and the non-farm payrolls report on Friday. The data will help gauge the impact of the latest Trump tariffs on the Fed’s policy outlook.
* Among other metals, spot silver fell 0.2% to $33.10 an ounce, platinum was steady at $986.13 and palladium lost 0.3% to $946.51.
DATA/EVENTS (GMT) 1000 EU Consumer Confid. Final Apr 1400 US Consumer Confidence Apr.
