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Near-term demand for gold to remain elevated, says analyst

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Trump hints at some flexibility regarding tariffs

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Gold hit record high of $3,057.21 last week

(Adds comments, and updates with EMEA mid-session trading)

By Rahul Paswan

March 24 (Reuters) - Gold prices were steady on Monday,

underpinned by a weaker U.S. dollar and uncertainty around U.S.

President Donald Trump's tariff plans.

Spot gold was at $3,024.39 an ounce at 1000 GMT. U.S.

gold futures edged 0.3% higher to $3,029.50.

"A modestly weaker dollar is probably giving gold a little

bit of a tailwind at present," said Ross Norman, an independent

analyst.

The U.S. dollar was down 0.1% against a basket of other

major currencies on Monday, but around 3.4% lower so far

this month, making gold less expensive for foreign buyers.

U.S. President Donald Trump hinted on Friday that there

would be some flexibility regarding reciprocal tariffs that are

set to take effect on April 2 and are expected to drive

inflation and hinder economic growth.

"A worse-than-feared tariff announcement on April 2 could

give bullion bulls a shot in the arm towards striving for the

$3,100 mark," said Han Tan, Exinity Group's chief market

analyst.

Gold is traditionally viewed as a hedge during times of

geopolitical and economic uncertainty.

"Should risk-on sentiment make a comeback, assuming the U.S.

tariff threats prove to be more bark than bite, that could see

fleeting forays below $3,000," Tan said.

After the Federal Reserve held its benchmark interest rate

steady last week and indicated two quarter-percentage-point cuts

this year, markets will look to the release on Friday of the

U.S. Personal Consumption Expenditures (PCE), the central bank's

preferred inflation measure.

Gold typically thrives in a low-interest-rate environment

and reached an all-time peak of $3,057.21 per ounce last week,

up more than 15% this year.

In the near term gold is expected to hit the $3,150 mark,

said Norman.

"With no clear resolution to these uncertainties, (gold)

demand is expected to stay elevated in the near term," said Zain

Vawda, market analyst at MarketPulse by OANDA.

Spot silver firmed 0.3% to $33.12 an ounce, platinum

added 0.5% to $979.50, and palladium was steady at

$958.14.