Ammon News - Gold was unchanged on Monday after touching a historic milestone last week, driven by geopolitical tensions, jitters about escalating tariffs and hopes of further U.S. interest rate cuts.

Spot gold was flat at $2,983.09 an ounce, as of 0518 GMT. Bullion rose above the $3,000/oz milestone to notch a record high of $3,004.86 on Friday.

U.S. gold futures eased 0.3% to $2,992.30.

"The recent rally in gold has been driven by stagflationary fears," said Kelvin Wong, senior market analyst, Asia Pacific, at OANDA, adding that the metal's short-term momentum remains positive, with the next intermediate resistances at $3,016 or $3,030.

Gold, a hedge against economic uncertainties and inflation, has risen about 14% so far in 2025.

Spot silver shed 0.3% to $33.67 an ounce, platinum added 0.4% to $996.80, and palladium firmed 0.1% to $965.70. Reuters