RAW MATERIALS
* Spot gold was down 0.4% at $4,576.79 an ounce as of 01:34 GMT. Bullion hit an all-time high of $4,629.94 on Monday. * U.S. gold futures for February delivery lost 0.6% to $4,585.40.
* US President Donald Trump said on Monday that any country doing business with Iran would face a 25% tariff on trade with the US, as Washington weighs a response to the situation in Iran, which is seeing the largest anti-government protests in years.
* The unrest in Iran comes as Trump flexes US muscles internationally after deposing Venezuelan President Nicolas Maduro and debates acquiring Greenland through ‘purchase or’ force.
* The dollar held on to losses but hovered around a one-month high after the Trump administration opened a criminal investigation into Fed Chairman Jerome Powell, a move that threatens the central bank’s independence and confidence in U.S. assets.
* The Trump administration’s decision to investigate Powell prompted condemnation Monday from former Fed chiefs and a chorus of criticism from key members of the Republican Party.
* Meanwhile, major brokerages such as Goldman Sachs and Morgan Stanley each expect two 25 basis point rate cuts in June and September. * Non-performing assets tend to do well in low interest rate environments and during geopolitical or economic uncertainties.
* Spot silver lost 1.6% to $83.62 an ounce after hitting a record high of $86.22 on Monday.
* Spot platinum lost 2.5% to $2,283.95 an ounce after hitting a record peak of $2,478.50 on Dec. 29.
* Palladium fell 3.7% to $1,774.44 an ounce.
DATA/EVENTS (GMT)
1330 US Core CPI MM, SA Dec
1330 US CPI YY, NSA December
1330 US CPI wage earner Dec
1,500 US new home sales units Oct
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