July 1 (Reuters) - Gold prices rose on Tuesday,
supported by a weaker U.S. dollar, as investors awaited labour
market data due later this week to assess the Federal Reserve's
potential rate-cut trajectory amid renewed calls from U.S.
President Donald Trump to lower rates.
FUNDAMENTALS
* Spot gold was up 0.3% at $3,312.25 per ounce, as of
0042 GMT, while U.S. gold futures rose 0.5% to
$3,323.10.
* The U.S. dollar index fell 0.2%, hovering near a
three-year low, making bullion more affordable for holders of
other currencies.
* Trump continued to press the Fed on Monday to ease
monetary policy, sending Fed Chair Jerome Powell a list of
global central bank interest rates, annotated with handwritten
comments urging U.S. rates to align with Japan's 0.5% and
Denmark's 1.75%.
* U.S. Treasury Secretary Scott Bessent said Monday that the
administration is considering using the next expected Federal
Reserve Board of Governors vacancy in early 2026 to appoint a
successor to Powell.
* Federal Reserve Bank of Atlanta President Raphael Bostic
said Monday that the economy has yet to face the full impact of
Trump's trade tariffs and reiterated that he expects one rate
cut from the Fed this year.
* Meanwhile, Chicago Federal Reserve Bank President Austan
Goolsbee said he sees no signs of stagflation but noted the
possibility of both unemployment and inflation worsening
simultaneously.
* Investors are closely monitoring a series of labour market
reports in this holiday-shortened trading week, culminating in
Thursday's government payrolls data, for insights into the Fed's
monetary policy direction.
* Meanwhile, Trump expressed frustration with U.S.-Japan
trade negotiations on Monday as Bessent warned that countries
could be notified of sharply higher tariffs, as a July 9
deadline approaches despite good-faith negotiations.
* The United States will resume trade negotiations with
Canada after Ottawa dropped the digital services tax.
* Spot silver edged up 0.1% to $36.13 per ounce,
platinum rose 0.7% to $1,362.35, while palladium
gained 1.2% to $1,110.03.
DATA/EVENTS (GMT)
0030 Japan JibunBK Mfg PMI June
0145 China Caixin Mfg PMI Final June
0600 UK Nationwide house price mm, yy June
0750 France HCOB Manufacturing PMI June
0755 Germany HCOB Mfg PMI June
0755 Germany Unemployment Chg, Rate SA June
0800 EU HCOB Mfg Final PMI June
0830 UK S&P Global Manufacturing PMI June
0900 EU HICP X F, E, A, T Flash YY, MM June
1345 US S&P Global Mfg PMI Final June
1400 US ISM Manufacturing PMI