FUNDAMENTALS
* Spot gold was up 0.1% at $1,958.85 per ounce, as of
0048 GMT. U.S. gold futures rose 0.3% to $1,959.30.
* The dollar index eased 0.1%, making bullion more
affordable for buyers holding other currencies.
* Gold prices slipped more than 1% on Monday as investors
scaled back on safe-haven trading in favour of riskier assets
after First Citizens BancShares said it would take on the
deposits and loans of failed Silicon Valley Bank.
* Bank of England Governor Andrew Bailey signalled on Monday
that interest rate-setters would focus on fighting inflation and
would not be swayed unduly by worries about the health of the
global banking system.
* The U.S. Federal Reserve is "still learning" how much
impact its interest rate increases have had on the economy and
inflation, Federal Reserve Governor Philip Jefferson said on
Monday.
* Markets are pricing in a nearly 60% chance of the Fed
standing pat on interest rates in its May meeting, according to
the CME FedWatch tool.
* Higher interest rates tend to discourage investment in
non-yielding bullion.
* Spot silver edged 0.1% higher to $23.11 per ounce,
platinum rose 0.4% to $975.13 and palladium was up
0.5% at $1,414.99.
DATA/EVENTS (GMT)
0645 France Business Climate Mfg March
0645 France Business Climate Overall March
1400 US Consumer Confidence March
Bank of Japan Governor Haruhiko Kuroda gives remark at the
FIN/SUM 2023 in Tokyo
1315 - European Central Bank president Christine Lagarde
gives speech at opening ceremony of BIS Innovation Hub
Eurosystem Centre in Frankfurt
0845 - Governor Andrew Bailey and other Bank of England
officials participate in a Treasury Select Committee hearing on
Silicon Valley Bank in London
(Reporting by Kavya Guduru in Bengaluru; Editing by Sherry
Jacob-Phillips)
