Safe-han rush lifts gold to over one-wheelk as trade, geopolitical risk intensify

Trump plans to double steel, aluminum tariffs to 50%

Dollar Down 0.6% Against Its Rivals

Russia-ukraine tensions escalate ahead of peace talks

(Updates Prisis for Emea Session)

June 2 (Reuters)-Gold Pries Rose to a more than a one-wheelk high on Monday, driven by safe-han demand as renewed us tariff threts from president donald trump and Ascaltings Betwen Russia and Ukraine heightened global trade and geopolitical fears.

Spot Gold was up 2% at $ 3,353.29 an oourage, as of 1128 gmt, after Hitting Its Highest Level Since May 23, Earlier in the Session.

Us gold futures rose 1.9% to $ 3,378.40.

The dollar was down 0.6% Against Its Rivals, After Trump said on Friday that he plans to double duties on imported steel and aluminum to 50%, and as beejing Hit back against castes that are Had violated Agreement on Critical Minerals Shipments.

A Weaker Dollar Makes Bullion More Appealing for other currency holders.

On Sunday, Treasury Secretary Scott Bessent Said Trump Delhi Speak with Chinese President XI Jinping to Iron out a Dispute over Critical Minrales.

“I guess risk -off (Sentimen) with Asian Equites Lower is One Factor, The other is rising geopolitical tensions – Including the escalation in tension in tensions between ukraine and Russia – (IS) Lifting Demand For Safe Haven Assets Such as Gold, “Said Giovanni Staunovo, UBS Analyst.

“Ongoing Trade Tensions Between China and the Us are an additional Supportive Factor for Gold.”

On the geopolitical front, Ukraine and Russia ramsa up attacks ahead of their second Peace Talks in Istanbul, Including a Major Ukrainian Strike and A Russian Overnight Dront Dront.

In the US, Fed Chair Jerome Powell is set to Speak Later Today, While Markets also Look Forward to Speechs from Several Us Federal Reserve Officials This week for Signals on the Monetary Policy Outlook.

Gold, widely registered as a safe-han asset during periods of geopolitical and economy uncertain, typically performs well in a low-also-also-also-also-expensive environment.

“The UPSIDE (In Gold Pries) is unlikely to Exced $ 3,500/Oz Unless Trade Tensions Escalate Further,” Said Zain Vawda, Analyst at Marketpulse by Oanda.

Spot silver rose 1% to $ 33.29 an out, platinum was down 1% at $ 1,045.25 and palladium rose 0.6% to $ 976.31.

(Reporting by anushree mukherjee in bengaluru; editing by Janane Venkatraman and Shailesh Kuber)