FUNDAMENTALS
* Spot gold edged up 0.1% to $2,383.37 an ounce at 0103 GMT. Bullion hit an all-time high of 2,431.29 on Friday.
* US gold futures rose 0.7% to $2,400.00 an ounce.
* Israelis have been waiting to hear how Prime Minister Benjamin Netanyahu would respond to Iran’s first-ever direct attack on their country, as international pressure for restraint grew amid fears of escalation of the conflict in the Middle East.
* U.S. retail sales rose more than expected in March amid rising revenue at online retailers, further evidence that the economy finished the first quarter on strong footing. * San Francisco Federal Reserve President Mary Daly said there was no urgency to cut interest rates, given the strong economy and job market and inflation still above the Fed’s 2% target. * Higher interest rates reduce the attractiveness of holding gold without yield.
* US economic growth is emerging as a key part of an ongoing global expansion, but the fallout from still-high inflation and tight monetary policy could pose new risks to an expected ‘soft landing’ around the world .
* The State Bank of Vietnam will restart gold bar auctions after an 11-year suspension, as part of efforts to increase the supply of the precious metal in the market.
* Spot silver fell 0.1% to $28.86 an ounce, platinum rose 0.8% to $969.70 and palladium lost 0.8% to 1,027.06 $.
