Gold edges higher as Middle East tensions lift safe-haven appetite
Middle East drove investors towards the safe-haven metal.
FUNDAMENTALS
* Spot gold edged up 0.1% at $2,383.37 per ounce, as of 0103 GMT. Bullion hit an all-time high of 2,431.29 on Friday.
* U.S. gold futures rose 0.7% to $2,400.00 per ounce.
* Israelis awaited word on 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 an escalation of conflict in the Middle East.
* U.S. retail sales increased more than expected in March amid a surge in receipts at online retailers, further evidence that the economy ended the first quarter on solid ground.
* San Francisco Federal Reserve Bank President Mary Daly said there's no urgency to cut interest rates, with the economy and labor market strong, and inflation still above the Fed's 2% target.
* Higher interest rates reduce the appeal of holding non-yielding gold.
* U.S. economic growth is emerging as a key prop for an ongoing global expansion, but spillovers from persistently 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, amid efforts to increase supply of the precious metal to market.
* Spot silver fell 0.1% to $28.86 per ounce, platinum rose 0.8% to $969.70 and palladium lost 0.8% at $1,027.06.
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