Gold Reaches Three-Week High

Gold prices reached a three-week high on Monday, fueled by a rush to safe havens after U.S. President Donald Trump threatened to impose a 30 percent tariff on imports from the European Union and Mexico.

Spot gold rose 0.5 percent to $3371.34 per ounce by 0045 GMT, marking the highest level since June 23. U.S. gold futures climbed 0.7 percent to $3386.20.

Investors are now eagerly awaiting the release of U.S. inflation data for June, scheduled for Tuesday, to gain insights into the Federal Reserve's potential interest rate decisions.

The markets currently anticipate a rate cut by about 50 basis points by December. Meanwhile, other precious metals saw mixed trading sessions.

Silver gained 0.4 percent in spot trading to reach $38.49 per ounce. Platinum fell 1.1 percent to $1384, while palladium decreased 1.7 percent to $1194.40.