WASHINGTON (dpa-AFX) - Gold scaled a record peak above the key $3000 mark on Tuesday as tariff worries and signs of rising geopolitical tensions boosted bullion's safe-haven demand appeal.
Spot gold climbed 0.7 percent to $3,021.97 per ounce in European trade, while U.S. gold futures were up 0.8 percent at $3,030.19.
Tariff worries persisted after U.S. President Donald Trump said he would be imposing both broad reciprocal tariffs and additional sector-specific tariffs on April 2.
On the geopolitical front, Israel has launched a wave of air attacks across the Gaza Strip, breaking ceasefire and reigniting hostilities after stalled hostage negotiations.
The air raids in the early hours of Tuesday killed more than 320 people, including many women and children.
Israeli Prime Minister Benjamin Netanyahu said he had ordered the attacks due to a lack of progress in talks to extend the ceasefire and secure the release of remaining captives taken by Hamas in October 2023. The White House has voiced its support for Israel's actions.
Hamas warned that Israel had breached the ceasefire and put the fate of the captives still held in jeopardy.
On the economic front, U.S. reports on industrial production, housing starts and import and export prices may attract attention later today, although activity is likely to be somewhat subdued ahead of the Federal Reserve's monetary policy announcement on Wednesday.
The Fed is widely expected to leave interest rates unchanged, with traders likely to scrutinize the accompanying statement as well as officials' latest projections for clues about the outlook for rates amid much uncertainty about the economic impact of President Trump's trade policies.
Elsewhere, the Bank of Japan is set to hold the benchmark rate at the current level of 0.5 percent on Wednesday.
The Bank of England is expected to take another pause on its rate-cutting path Thursday while Switzerland's central bank looks set to cut interest rates for the last time in the current cycle.
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