Gold holds near 3-week high

Gold prices held steady on Monday, driven by investor appetite for safe havens after US President Donald Trump threatened to impose 30% tariffs on imports from the European Union and Mexico.

Spot gold settled at $3,357.56 per ounce, after hitting its highest intraday level since June 23. US gold futures rose 0.19% to $3,370.40.

Trump had threatened on Saturday to impose 30% tariffs on imports from Mexico and the European Union starting August 1, following weeks of negotiations with America’s major trading partners that failed to reach a comprehensive trade agreement.