Around the same time, Moscow launched one of its longest attacks against Kyiv, ahead of crucial peace talks this week.
US President Donald Trump also stoked more worries over global trade at the weekend, vowing to double import tariffs on foreign steel and aluminum to 50%, with Canada’s industry minister warning that it would retaliate.
There are also signs the US-China truce is at risk after Trump accused Beijing of reneging on an agreement reached last month.
See also: Why investors can’t seem to get enough of gold
All of that is restoring some of gold’s haven appeal, which has ebbed somewhat since it hit a record high above US$3,500 an ounce in April.
The precious metal is still up more than a quarter so far this year though, with Goldman Sachs Group saying last week it would remain a hedge against inflation in long-term portfolios, along with oil.
Spot gold rose 0.7% to US$3,313.52 an ounce as of 8.12am in Singapore. The Bloomberg Dollar Spot Index dipped 0.1%. Silver, platinum and palladium all edged higher.
See also: Gold moves closer to US$4,000 on US shutdown and French crisis
Looking ahead, there are a slew of labour market indicators due this week — including the May employment report — which will help to steer US monetary policy.
Chart: Bloomberg
