RAW MATERIALS
* Spot gold rose 0.4% to $4,263.59 an ounce as of 02:03 GMT, after losing about 1.8% on Friday, the highest since mid-May.
* Despite a sharp plunge on Friday, gold still posted its best weekly performance since April, having previously risen to a record high of $4,378.69 an ounce.
* U.S. gold futures for December delivery added 1.5% to $4,275.40 an ounce.
* Spot silver added 0.5% to $52.08 an ounce. Prices fell about 4.4% in the previous session, the biggest intra-session drop since early April, after hitting a record high of $54.47 an ounce.
* Non-yielding bullion is up more than 60% this year, driven by geopolitical tensions, aggressive rate cuts, central bank buying, dedollarization and robust ETF inflows.
* Gold fell sharply on Friday after Trump said his proposed 100% tariff on goods from China would not be sustainable, adding that he would meet with Chinese President Xi Jinping and that he thought everything would be fine with China.
* HSBC predicted on Friday that gold’s bull rally would push prices to $5,000 an ounce by 2026, supported by heightened risks and the impact of new market entrants.
* Rising gold prices prompted Indian buyers to choose coins and bars over jewelry during the Dhanteras festival on Saturday, fueled by hopes that the precious metal’s stellar rally would continue, industry officials told Reuters.
*India’s gold reserves crossed the $100 billion mark for the first time, according to the latest Reserve Bank of India data on foreign exchange reserves, buoyed by a global price rise even as the central bank’s purchases fell sharply this year.
* The Shanghai Futures Exchange said Friday it would raise the daily price change limits for gold and silver futures from 12% to 14%, amid the recent surge in the precious metals’ prices.
* Elsewhere, platinum fell 1.1% to $1,591.55 and palladium fell 0.5% to $1,467.16 an ounce.
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